HOLI - Holllysys Automation gains after report Beijing Infra mulling $1.9B offer

Hollysys Automation (NASDAQ:HOLI) jumped 13% in premarket trading on a report that Beijing Infrastructure is considering an offer that would value the company at as much as $1.9B. Beijing Infrastructure, the state-owned operator of Beijing's railway and subway, has had preliminary talks about a takeover of HOLI, according to a Bloomberg report. Talks are at an early stage. HOLI has a market cap of about $790M. The report comes as Hollysys (HOLI) has received a few different takeover offers in the past year or so including a $25/share offer in late January from a consortium led by Recco Control Technology and Dazheng Group (Hong Kong) Investment. Hollysys CEO Changli Wang, who returned as head of the company in January,  is part of the Emerald Consortium, which offered to buy the company for $23/share in the summer. Last week, TFI Asset Management to join consortium for potential acquisition of Hollysys.

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Holllysys Automation gains after report Beijing Infra mulling $1.9B offer