Hollysys Confirms Receipt Of Revised Unsolicited Consortium Proposal Of $17.10/Shr - Quick Facts

(RTTNews) - Hollysys Automation Technologies Ltd. (HOLI) announced that its Board of Directors has confirmed it received a revised unsolicited consortium proposal to acquire all the outstanding shares of Hollysys for $17.10 per share.

The Board, consistent with its fiduciary duty and in consultation with its independent financial and legal advisors, will carefully review and thoroughly evaluate the Revised Proposal. Latham & Watkins is serving as legal advisor to Hollysys.

As part of this review, the Board will consider the Revised Proposal in the context of the significant value creation potential from the Company's ongoing business strategy. The Company said its shareholders do not need to take any action at this time.