- Hollysys Automation Technologies (NASDAQ:HOLI) +18.3% post-market after disclosing a preliminary non-binding proposal to acquire all publicly held shares for $15.47/share in cash, which represents a 24% premium to the stock's Dec. 4 closing price.
- The offer comes from a consortium including co-founder and former Hollysys CEO Baiqing Shao and Chinese P-E firm CPE Funds Management.
- The group also urges the Hollysys board to take necessary action to render the company's shareholder rights plan inapplicable to the proposal.
- Hollysys shares "look very attractive from a technical and fundamental perspective," Individual Trader writes in a bullish analysis posted recently on Seeking Alpha.
Hollysys Automation gets takeout proposal at $15.47/share
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About HOLI Stock
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| Symbol | Last Price | % Chg |
|---|---|---|
| HOLI | - | - |
| Hollysys Automation Technologies Ltd. | ||