Hollysys To Be Acquired By Ascendent Capital Partners For $26.50 Per Share In Cash
Portfolio Pulse from Benzinga Newsdesk
Hollysys Automation Technologies Ltd. (HOLI) is set to be acquired by Ascendent Capital Partners for $26.50 per share in an all-cash transaction. This acquisition represents a strategic move by Ascendent to enhance its portfolio in the automation technology sector.
December 11, 2023 | 2:12 pm
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Hollysys Automation Technologies Ltd. is being acquired by Ascendent Capital Partners for $26.50 per share in cash, which is likely to have a positive impact on HOLI's stock price in the short term.
Acquisitions typically lead to a rise in the stock price of the company being acquired, as the offer price usually represents a premium over the current market price. The all-cash nature of the deal provides immediate liquidity to shareholders, which is generally viewed positively by the market.
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