- Hollysys Automation Technologies received a non-binding proposal from a consortium to be acquired for $15.47 per share in cash.
- The $15.47 proposal undervalues the company's common and will likely be negotiated higher if management decides to pursue the proposal.
- One of the consortium's members is Hollysys's former CEO and chairman, and it is unclear whether his abrupt departure will inhibit fair consideration of the take-private proposal.
- Sino-U.S. tensions could compel the parties into entering a binding agreement despite whatever internal strife exists between Hollysys management and the consortium.
For further details see:
Hollysys Automation Technologies: A Higher Price Is Afoot If Parties Play Fair