Why Hollysys Automation Shares Are Soaring Today

March 15, 2022 12:40 PM | 1 min read | Make a Comment

The state-owned operator of Beijing's railway and the subway weighed a takeover bid for Hollysys Automation Technologies Ltd HOLI, valuing it at $1.9 billion, Bloomberg reports.
Beijing Infrastructure Investment Co looked to take Hollysys private following a deal based on its preliminary discussions.
Hollysys offers integrated solutions for industrial automation and rail transport.
Hollysys has fended off several takeover bids since the end of 2020.
Hollysys's systems utility in sensitive areas like railways and nuclear power stations could trigger political ramifications considering China's recent tech sector crackdown.
Price Action: HOLI shares traded higher by 18.20% at $15.83 on the last check Tuesday.