{"id":67893,"date":"2023-10-02T13:51:34","date_gmt":"2023-10-02T17:51:34","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/hollysys-automations-stock-rises-toward-2-year-high-after-engaging-with-recco-dazheng-regarding-25-buyout-bid\/"},"modified":"2023-10-02T13:51:36","modified_gmt":"2023-10-02T17:51:36","slug":"hollysys-automations-stock-rises-toward-2-year-high-after-engaging-with-recco-dazheng-regarding-25-buyout-bid","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=67893","title":{"rendered":"Hollysys Automation\u2019s stock rises toward 2-year high after engaging with Recco, Dazheng regarding $25 buyout bid"},"content":{"rendered":"
\n

Shares of Hollysys Automation Technologies Ltd.
\n HOLI,
\n +4.84%<\/bg-quote>
\n rose 0.8% toward a two-year high in premarket trading Monday, after the China-based provider of automation control systems said it formed a special committee to conduct a formal sale process. The company said the committee will engage immediately with Recco Control Technology and Dazheng Group Investment Holdings Co. regarding their unsolicited bid to buy Hollysys for $25 a share, which is 30% above Friday\u2019s closing price of $19.84.. With 62.02 million shares outstanding, the buyout bid would value the company at $1.55 billion. The stock has climbed 12.8% over the past three months through Friday, while the S&P 500
\n SPX,
\n -0.38%<\/bg-quote>
\n has lost 3.7%.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Hollysys Automation Technologies Ltd. HOLI, +4.84% rose 0.8% toward a two-year high in premarket trading Monday, after the China-based provider of automation control systems said it formed a special committee to conduct a formal sale process. The company said the committee will engage immediately with Recco Control Technology and Dazheng Group Investment Holdings […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-67893","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nHollysys Automation\u2019s stock rises toward 2-year high after engaging with Recco, Dazheng regarding $25 buyout bid | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Hollysys Automation Technologies Ltd. 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