RTTNews | Aug 3, 2021 10:27AM EDT

10:26 Tuesday, August 3, 2021 (RTTNews.com) - Shares of Chinese automation control system solutions provider Hollysys Automation Technologies Ltd. (HOLI) are up more than 28% Tuesday morning.

Monday the company said its Board is evaluating a non-binding offer from Superior Emerald (Cayman) Limited, controlled by Ascendent Capital Partners, and Mr. Changli Wang, the retired founder of the Company, (the emerald Consortium) to acquire Hollysys for $23 per share in cash.

This follows an earlier offer from CPE Funds Management Limited, Mr. Shao Baiqing and Ace Lead Profits Limited (the CPE Consortium) to acquire Hollysys for $17.10 per share.

HOLI touched a new high of $20.84 this morning, before slipping to trade at $19.98 currently.

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