Hollysys Automation Nears Merger Completion

Hollysys Automation (HOLI) has released an update.

Hollysys Automation Technologies Ltd. has announced the near completion of its merger with a buyer controlled by Ascendent Capital Partners, following the receipt of all necessary regulatory approvals in China. The merger is pending the satisfaction of certain closing conditions, which the company expects to fulfill without issues, and will result in Hollysys being delisted from the NASDAQ Global Select Market. Hollysys, a leading provider of automation control system solutions, and Ascendent are working together to expedite the closure of the transaction.

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