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Top related persons:
Hollysys - 3 Janet Yellen - 1 Mark Schiefelbein - 1 Hong - 1 Recco - 1 Kong’s - 1 David Blennerhassett - 1 Una Galani - 1
Top related locs:
China United States Beijing Hong Kong U.S Singapore Rights SINGAPORE People's Republic
Top related orgs:
Automation Technologies - 3 Thomson - 3 U.S - 2 Nasdaq - 2 Oasis Management - 2 Recco Control Technology - 2 Treasury - 1 Lifeng - 1

Search resuls for: "Recco Control Technology"


3 mentions found


☆ More US-China take-privates could get feisty
  + stars: | 2023-11-14 | by ( Anshuman Daga | ) www.reuters.com   time to read: +4 min
It is unusual to see a ruckus over a U.S.-listed Chinese firm. Would-be acquirors of Hollysys include the company’s own management, a buyout firm and a consortium including Chinese state-owned investors. The segment constitutes 65% of Hollysys’ top line, which has risen by over 50% from three years ago. The Hollysys affair suggests shareholders can expect a little bit more as Chinese companies bid farewell to the United States. The $26 per share cash offer represents a 26% premium to the closing price on Nov. 3.
Persons: Janet Yellen, Mark Schiefelbein, Hong, Recco, Kong’s, David Blennerhassett, Hollysys, Una Galani, Thomas Shum Organizations: Treasury, Lifeng, Rights, Reuters, U.S, Nasdaq, Oasis Management, Capital Partners, Quiddity Advisors, ABB, Emerson Electric, VNET, Ascendent Capital Partners, Automation Technologies, Recco Control Technology, Hong, Investment, Thomson Locations: Beijing, China, Rights SINGAPORE, United States, People's Republic, Washington, Hong Kong, U.S, Singapore
☆ China's Hollysys to consider $1.55 bln takeover bid, seek other offers
  + stars: | 2023-10-02 | by ( Kannaki Deka Yantoultra Ngui | Kannaki Deka | Yantoultra Ngui | ) www.reuters.com   time to read: +3 min
Hollysys offers integrated services for industrial automation and rail transport, according to its website, and its control systems have been used in sensitive areas such as nuclear power stations. In August, a consortium led by Recco Control Technology and Dazheng Group Investment Holdings made an all-cash offer of $25 per share to buy the company. The special committee will discuss the next steps with Recco Control and Dazheng Group (Hong Kong) in response to the offer to acquire the company, while expediting the process to seek "additional serious and compelling offers," Hollysys said in a statement. Deutsche Bank will solicit additional potential offers on behalf of Hollysys, it added. Founded in 1993, Hollysys now has operations in China and eight other countries and regions throughout Asia.
Persons: Hollysys, Kannaki, Anil D'Silva, Susan Fenton Organizations: Hollysys Deutsche Bank, Automation Technologies, Recco Control Technology, Dazheng Group Investment Holdings, Nasdaq, Recco, Dazheng, Deutsche Bank, Dazheng Group, Reuters, U.S, New, Thomson Locations: Beijing, United States, China, Taiwan, Hong Kong, Hollysys, New York, Asia, Bengaluru, Yantoultra, Singapore
☆ Shareholders ask China's Hollysys to set special meeting amid takeover frustration
  + stars: | 2023-08-30 | by ( Svea Herbst-Bayliss | ) www.reuters.com   time to read: +2 min
NEW YORK, Aug 30(Reuters) - Shareholders in China's Hollysys Automation Technologies owning a total 32.2% of the automation control system maker's shares asked the board of directors to set a special shareholder meeting, according to a letter seen by Reuters. Asking for a special meeting is a highly unusual step and signals shareholders' mounting frustration with management of the U.S.-listed company, which has received takeover bids but which has not started a sales process, people familiar with the matter said. A year ago Hollysys management was ready to take the company private at a $1.8 billion valuation, Reuters reported, but nothing has happened since then. Registered shareholders have a statutory right under section 82 of the BVI Business Companies Act (British Virgin Islands) to require the Hollysys board to convene a shareholder meeting. Any shareholder also has a statutory right to apply to the court for an order requiring a shareholder meeting to be held on the basis that it is in the interest of the shareholders that such a meeting be held.
Persons: Conyers, Pearman, Hollysys, Svea Herbst, Bayliss, Louise Heavens Organizations: Automation Technologies, Reuters, Oasis Management, Maso, Company, Technology, . Ltd, Dazheng Group Investment Holdings Company, Act, Svea, Thomson Locations: U.S, United States, Cayman Islands, China, Virgin
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