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A consortium managed by Recco Control Technology Pte. Ltd. and Dazheng Group has confirmed an optional conditional offer to acquire Hollysys Automation Technologies Ltd for $1.55 billion ($25 per share).
Recco Control Technology and Dazheng Group entered a non-binding MOU with Great Wall Capital Management for co-investment opportunities, and reaffirmed their interest in acquiring Hollysys Automation Technologies Ltd.