Ascendent Wins Overwhelming Shareholder Support to Acquire Hollysys for US$26.50 Per Share

StreetInsider02-08

Approximately 86.94% of the shareholders who voted at the shareholders meeting approved Ascendent's acquisition proposal; Approximately 76.95% of shareholders voted, underlining the competitive value ...

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Approximately 76.95% of shareholders voted, underlining the competitive value ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=22739202\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://www.streetinsider.com/dr/news.php?id=22739202","article_id":"2409718769","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2409718769","pubTimestamp":1707394440,"sourceInfo":{"source_id":"highlight_streetinsider","name":"StreetInsider"},"weMediaInfo":null,"summary":"Approximately 86.94% of the shareholders who voted at the shareholders meeting approved Ascendent's acquisition proposal; Approximately 76.95% of shareholders voted, underlining the competitive value that has been offered to them.Ascendent is committed to securing regulatory approvals and closing the acquisition expeditiously.HONG KONG, Feb. 8, 2024 /PRNewswire/ -- Ascendent Capital Partners , a private equity investment management firm managing assets for global institutional investors, is pleased to note that Hollysys Automation Technologies Ltd.   has announced the voting results of the Company's Extraordinary General Meeting  held today. The EGM concluded with the overwhelming majority of Hollysys shareholders approving all resolutions, including the resolution pursuant to which Ascendent will acquire all outstanding shares of Hollysys that it does not currently own for US$26.50 per share in cash.","collect":0,"end_time":0,"defaultTopTitle":"streetinsider.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","HOLI":"和利时自动化","BK4157":"电子设备和仪器","BK4588":"碎股","BK4580":"工业 4.0","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC"},"translate_title":"Ascendent赢得压倒性股东支持，以每股26.50美元的价格收购美国和利时","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HOLI":1},"content_text":"Approximately 86.94% of the shareholders who voted at the shareholders meeting approved Ascendent's acquisition proposal; Approximately 76.95% of shareholders voted, underlining the competitive value that has been offered to them.Ascendent is committed to securing regulatory approvals and closing the acquisition expeditiously.HONG KONG, Feb. 8, 2024 /PRNewswire/ -- Ascendent Capital Partners (\"Ascendent\"), a private equity investment management firm managing assets for global institutional investors, is pleased to note that Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (\"Hollysys\" or the \"Company\") has announced the voting results of the Company's Extraordinary General Meeting (\"EGM\") held today. The EGM concluded with the overwhelming majority of Hollysys shareholders approving all resolutions, including the resolution pursuant to which Ascendent will acquire all outstanding shares of Hollysys that it does not currently own for US$26.50 per share in cash.\nLeon Meng, Chairman and CEO of Ascendent, commented: \"Today marks an important milestone for Hollysys, its investors, management, and staff. Ascendent, with our highest standards of corporate governance, applauds the Special Committee for conducting a transparent, thorough and robust sale process. We also want to thank Hollysys shareholders for their strong support and will work towards securing the required regulatory approvals expeditiously. Today's vote demonstrates that with a solid company in a transparent process, significant buyouts can still be done with the right private equity firms, even in this challenging macro environment and region.\"\nIn addition, shareholders at the EGM authorized and approved the appointment of each of Guanghua Miao, Ding Wei and Dennis Demiao Zhu to the board of directors of the Company.\nAbout Ascendent Capital Partners\nAscendent Capital Partners, headquartered in Hong Kong, is a private equity investment management firm managing assets for global institutional investors, including sovereign wealth funds, endowments, pensions and foundations. For additional information about Ascendent, please visit Ascendent's website at www.ascendentcp.com.\nAdvisors\nAscendent is advised by BNP Paribas Securities Corp, Morrison & Foerster LLP, Appleby and Zhong Lun Law Firm.\n View original content:https://www.prnewswire.com/news-releases/ascendent-wins-overwhelming-shareholder-support-to-acquire-hollysys-for-us26-50-per-share-302057479.html\nSOURCE Ascendent Capital Partners","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2409718769"}