<article>A consortium led by China&#8217;s Dazheng Group Acquisition has announced a bid to acquire automation and control technology provider Hollysys Automation Technologies in an all-cash transaction valued at $1.8 billion, according to a statement on Sunday.</article>

A consortium led by China&#8217;s Dazheng Group Acquisition has announced a bid to acquire automation and control technology provider Hollysys Automation Technologies 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 shares of Hollysys it does not already own for $29 per share in cash.
The proposal is 9.4% higher than the buyout offer made by Hong Kong-based Ascendent Capital on Dec. 11.
In August, a consortium led by Recco Control Technology and Dazheng Group made an all-cash offer of $25 per share to buy the company.
Hollysys Automation did not immediately respond to a request for comment outside of office hours.
Reuters

The consortium, which includes TFI Asset Management and GA Technologies, would acquire all outstanding shares of Hollysys it does not own.

Dazheng Group consortium announces bid to buy Hollysys Automation for $1.8b

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Dazheng Group consortium announces bid to buy Hollysys Automation for $1.8b

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief