HOLI $19.43 ***$23 Buy offer on table ->
BEIJING, Aug. 24, 2021 /PRNewswire/ -- HollySys Automation Technologies Ltd. (NASDAQ: HOLI) ("HollySys" or the "Company"), a leading provider of automation and control technologies and applications in China, today announced that the Company's Board of Directors (the "Board") has received from Superior Emerald (Cayman) Limited, a company controlled by Ascendent Capital Partners, and Mr. Changli Wang, the founder of the Company who retired from the Company in 2013 with honor (collectively, the "Emerald Consortium"), a notification advising that Mr. Yue Xu and Mr. Lei Fang, the co-chief operating officers of the Company, have agreed to join the Emerald Consortium as members in connection with the transaction contemplated under a preliminary non-binding offer delivered by the Emerald Consortium to the Company on July 20, 2021 to acquire all of the outstanding ordinary shares of the Company for US$23.00 per share in cash (the "Emerald Offer"). According to the notification received by the Company, Mr. Xu and Mr. Fang jointly represent the collective interests of themselves and certain other management and employees of the Company.
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