A consortium led by China’s Hollysys Automation Technologies management plans to take the U.S.-listed automation and control system maker private in a deal that would value the firm at $1.8 billion, people with knowledge of the matter said.
The consortium has also held talks with banks to finance the deal and is about to secure loans worth at least $1 billion from Chinese lenders, led by ICBC (Asia), they added.
The premium is above a string of unsolicited takeover offers Hollysys received since December 2020, with several coming in at $23-$25 per share. The firm said in January it was not planning a sale and would not evaluate further unsolicited proposals.
Read more: Reuters
