Hollysys Announces Shareholder Approval Of Merger Agreement With Ascendent, Once Completed Company Says It's Ordinary Shares Would No Longer Be Listed Or Traded
Portfolio Pulse from Benzinga Newsdesk
Hollysys has announced that its shareholders have approved a merger agreement with Ascendent. Upon completion of the merger, Hollysys' ordinary shares will no longer be listed or traded.

February 08, 2024 | 10:55 am
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NEGATIVE IMPACT
Hollysys' shareholders have approved a merger with Ascendent, leading to the delisting of Hollysys' shares upon merger completion.
The approval of the merger by Hollysys' shareholders and the subsequent delisting of its shares are significant events that directly impact the company's stock. Delisting typically leads to reduced liquidity and visibility, which can negatively affect the stock price in the short term. However, the overall impact will depend on the terms of the merger and the investors' perception of the combined entity's future prospects.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100