{"id":21855,"date":"2023-12-25T21:34:11","date_gmt":"2023-12-26T03:34:11","guid":{"rendered":"https:\/\/ustower.net\/?p=21855"},"modified":"2023-12-25T21:34:17","modified_gmt":"2023-12-26T03:34:17","slug":"dazheng-group-consortium-announces-bid-to-buy-hollysys-automation-for-1-8-billion","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=21855","title":{"rendered":"Dazheng Group consortium announces bid to buy Hollysys Automation for $1.8 billion"},"content":{"rendered":"\n<p class=\"has-medium-font-size\">Dec 24 (Reuters) &#8211; A consortium led by China&#8217;s Dazheng Group Acquisition has announced a bid to acquire automation and control technology provider Hollysys Automation Technologies&nbsp;<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/companies\/HOLI.F\" rel=\"noreferrer noopener\">(HOLI.F)<\/a>&nbsp;in an all-cash transaction valued at $1.8 billion, according to a statement on Sunday.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The consortium, which includes TFI Asset Management and GA Technologies, said it would acquire all outstanding shares of Hollysys it does not already own for $29 per share in cash.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The proposal is 9.4% higher than the buyout offer made by Hong Kong-based Ascendent Capital on Dec. 11<\/p>\n\n\n\n<p class=\"has-medium-font-size\">In August, a consortium led by Recco Control Technology and Dazheng Group&nbsp;<a href=\"https:\/\/www.reuters.com\/markets\/deals\/chinas-hollysys-forms-committee-review-155-bln-takeover-offer-2023-10-02\/\">made an<\/a>&nbsp;all-cash offer of $25 per share to buy the company.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Hollysys Automation did not immediately respond to a request for comment outside of office hours.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/www.reuters.com\/markets\/deals\/dazheng-group-consortium-announces-bid-buy-hollysys-automation-18-bln-2023-12-24\/\">reuters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dec 24 (Reuters) &#8211; A consortium led by China&#8217;s Dazheng Group Acquisition has announced a bid to acquire automation and control technology provider Hollysys Automation Technologies&nbsp;(HOLI.F)&nbsp;in an all-cash transaction valued at $1.8 billion, according to a statement on Sunday. The consortium, which includes TFI Asset Management and GA Technologies, said it would acquire all outstanding [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":21857,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5783],"tags":[6819,25316,25313,25317,25315,25314,8652,24800],"class_list":["post-21855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sci-tech","tag-acquisition","tag-automation","tag-consortium","tag-control-technology","tag-dazheng-group","tag-holi-f","tag-provider","tag-stock"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/21855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21855"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/21855\/revisions"}],"predecessor-version":[{"id":21858,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/21855\/revisions\/21858"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/21857"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}