Photo: Dmitry Demidko/ Unsplash.com
08 February, 2024
Shareholders of Hollysys Automation Technologies Ltd. voted in favor of a $1.66 billion takeover proposal from private equity firm Ascendent Capital Partners Ltd., Bloomberg News reported on Thursday, citing people familiar with the matter.
Close to 90% of shareholders who voted on Thursday backed the Ascendent offer, the report added.
Reuters
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The Dazheng-led consortium is battling a rival offer from private equity firm Ascendent Capital.
Hollysys said its special committee has concerns over equity financing by Dazheng.