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08.12.2020 21:25:00

Why Hollysys Automation Technologies Shares Popped 17.8% Today

Shares of Hollysys Automation Technologies (NASDAQ: HOLI) jumped by as much as 17.8% in trading Tuesday after the company received a buyout offer. Shares were up by 13.9% at 3:20 p.m. EDT and holding fairly steady. Management disclosed in an SEC filing that they have received a non-binding acquisition offer from a consortium group that includes co-founder and former CEO Baiquing Shao. The bid is for $15.47 per share, which is still about 8.5% higher than where shares were trading late Tuesday afternoon. Image source: Getty Images.Continue reading
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