Hollysys Automation gets takeout proposal at $15.47/share
Dec. 7, 2020 6:48 PM ET|About: Hollysys Automation Technol... (HOLI)|By: Carl Surran, SA News Editor
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.
Dec. 7, 2020 6:48 PM ET|About: Hollysys Automation Technol... (HOLI)|By: Carl Surran, SA News Editor
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.