Hollysys Automation (HOLI) has released an update.
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Hollysys Automation Technologies Ltd. has completed a merger with entities affiliated with Ascendent Capital Partners, with the combined company becoming a wholly owned subsidiary and ceasing to be publicly traded. Shareholders of Hollysys will receive $26.5 per share in cash, following the company’s request to suspend trading on the Nasdaq and move towards deregistration. This strategic move is aimed at enhancing operational capabilities and delivering value to stakeholders in the challenging market environment.
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