Hollysys Automation Technologies on Sunday received an improved offer by a consortium led by Dazheng Group Acquisition to buy the company for roughly $1.8 billion.
The consortium is offering.
Hollysys Automation Technologies said Monday it agreed to be acquired by private investment firm Ascendent Capital Partners for $1.66 billion in cash.
Hong Kong-based Ascendent will pay $26.50 a.
Hollysys Automation Technologies said Monday its board has formed a special committee to conduct a formal sale process.
In August, the company received a non-binding offer from a consortium led.