Hollysys holders push for special shareholder meeting amid takeover offers – reports

Shareholders of Chinese automation control system firm Hollysys Automation (NASDAQ:HOLI) are pushing for the company to hold special shareholder vote amid takeover offers for the company, according to reports from Bloomberg and Reuters.

The shareholders, who own 32.2% of Hollysys (HOLI) shares outstanding, are frustrated that although the board has received takeover offers, it has yet to start a sales process, according to a Reuters report earlier Wednesday, which cited people familiar with the matter and a letter viewed by the publication.