Hollysys Automation Technologies Ltd. (HOLI) said its Board has decided that the unsolicited offer made by Baiqing Shao, CPE Funds Management Limited and purportedly on behalf of Ace Lead Profits Limited to acquire all of the outstanding ordinary shares of the company for $15.47 in cash per ordinary share, substantially undervalues the company and is not in the best interest of the shareholders.
Li Qiao, Chairwoman of Hollysys, stated: "We believe that the company has significant value creation potential as a result of its leading position in the automation industry and strong research and development capabilities."
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.