HOLI - Hollysys Automation says CEO recently purchased 1M shares

Hollysys Automation (NASDAQ:HOLI) said it's CEO Changli Wang recently purchased 1.06 million shares in the open market. 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. In March Bloomberg reported that Beijing Infrastructure was said to be considering an offer that would value Hollysys Automation (HOLI) 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. The latest disclosure about Wang's share purchase 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. See from Friday, HollySys Automation Q3 Non-GAAP EPS of $0.30 misses by $0.33, revenue of $155.71M.

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Hollysys Automation says CEO recently purchased 1M shares