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Shareholders of Chinese language automation management system agency Hollysys Automation (NASDAQ:HOLI) are pushing for the corporate to carry particular shareholder vote amid takeover affords for the corporate, in response to studies from Bloomberg and Reuters.
The shareholders, who personal 32.2% of Hollysys (HOLI) shares excellent, are pissed off that though the board has obtained takeover affords, it has but to begin a gross sales course of, in response to a Reuters report earlier Wednesday, which cited individuals conversant in the matter and a letter considered by the publication.
The letter was despatched to the automation management system firm on behalf of 33 traders, together with hedge funds Oasis Administration and Maso Capital per week in the past, in response to the Reuters report. Hollysys (HOLI) hasn’t responded to the letter.
The hedge fund push comes after an investor consortium final Thursday renewed a bid to acquire Hollysys for about $1.55 billion. The bidding group is led by privately held Recco Management Expertise Pet. and Dazheng Group Funding Holdings Comp.
There was a report from Mergermarket earleir this month {that a} management-led group has finalized its buyer consortium for a takeover of HollySys (HOLI). In June Mergermarket additionally reported that that the management-led group teamed up with CITIC Group for a $1.6 billion buyout of HOLI.
Bloomberg reported on the investor group push for a gathering earlier on Wednesday.