Canadian House of Commons Special Committee on Electoral Reform

Hollysys Provides Update on Sale Process; Responds to Shareholder Request for Special Meeting

Retrieved on: 
Monday, October 30, 2023

BEIJING, Oct. 30, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that the Special Committee of the Board of Directors, which was established to conduct a sale process as announced on October 2, and its advisors have been in contact with multiple prospective buyers. These include financial sponsors as well as strategic buyers for which there would be compelling industrial logic to an acquisition.

Key Points: 
  • These include financial sponsors as well as strategic buyers for which there would be compelling industrial logic to an acquisition.
  • It is engaged in ongoing discussions with both groups and will provide updates on material developments as soon as practicable.
  • As previously announced, on October 20, 2023, the Company received updated materials from requisitioning shareholders with respect to a request to convene a special meeting of shareholders.
  • Following the injunction hearing on November 21, 2023, the Company will re-assess promptly whether to convene a special meeting.

Navios Maritime Holdings Inc. Announces Definitive Merger Agreement

Retrieved on: 
Monday, October 23, 2023

GRAND CAYMAN, Cayman Islands and PIRAEUS, Greece, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Navios Maritime Holdings Inc. (the “Company”) (NYSE: NM) and N Logistics Holdings Corporation (“NLHC”), a company controlled by the Company’s Chairwoman and Chief Executive Officer, Angeliki Frangou, announced today that they entered into a definitive merger agreement (the “Merger Agreement”), pursuant to which NLHC will acquire all of the outstanding shares of common stock of the Company not already owned by NLHC (“Common Shares”) for $2.28 per share in cash, without interest (the “Merger”).

Key Points: 
  • GRAND CAYMAN, Cayman Islands and PIRAEUS, Greece, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Navios Maritime Holdings Inc. (the “Company”) (NYSE: NM) and N Logistics Holdings Corporation (“NLHC”), a company controlled by the Company’s Chairwoman and Chief Executive Officer, Angeliki Frangou, announced today that they entered into a definitive merger agreement (the “Merger Agreement”), pursuant to which NLHC will acquire all of the outstanding shares of common stock of the Company not already owned by NLHC (“Common Shares”) for $2.28 per share in cash, without interest (the “Merger”).
  • The Agreement follows the offer made by an affiliate of Ms. Frangou on September 13, 2023 to acquire the Common Shares.
  • The Company’s Board of Directors, acting on the unanimous recommendation of the Special Committee, approved the Merger Agreement by unanimous vote of the directors not affiliated with NLHC or its affiliates.
  • The Special Committee, with the assistance of its independent financial and legal advisors, exclusively negotiated the terms of the Merger Agreement on behalf of the Company.

Buyer Consortium Led by Recco Control Technology and Dazheng Group Responds to Hollysys’ Update on Sale Process

Retrieved on: 
Tuesday, October 24, 2023

Buyer consortium (“the consortium”) led by Recco Control Technology Pte.

Key Points: 
  • Buyer consortium (“the consortium”) led by Recco Control Technology Pte.
  • Ltd. (“Recco Control Technology”) and Dazheng Group (Hong Kong) Investment Holdings Company Limited (“Dazheng Group”) today issued a statement regarding Hollysys Automation Technologies Ltd.’s (NASDAQ: HOLI) (“Hollysys”) update on its ongoing sale process and disclosure of a supposed management-backed buyout proposal.
  • In that regard, the Consortium believes shareholders should be aware of the full context regarding the ongoing sale process and relevant history regarding unsolicited takeover proposals at Hollysys.
  • As part of an independent and transparent sale process, the Consortium seeks to proactively provide an update to shareholders on recent engagement between the Consortium and the Special Committee.

Hollysys Provides Update on Ongoing Sale Process and Special Meeting Request; Discloses Offer from Management-Backed Buyer Group

Retrieved on: 
Tuesday, October 24, 2023

BEIJING, Oct. 24, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that its special committee of independent directors (the "Special Committee") has received a non-binding proposal (the "Management Buyout Offer") from representatives of the management team, Lei Fang and Yue Xu, the Company's Co-Chief Operating Officers, to acquire all of the outstanding ordinary shares of the Company they do not already own for a cash consideration of U.S. $25.00 per ordinary share as part of a taking-private transaction. The proposal does not constitute a binding commitment with respect to the proposed transaction at this current stage.

Key Points: 
  • The proposal does not constitute a binding commitment with respect to the proposed transaction at this current stage.
  • As previously announced, on October 2, 2023, Hollysys formed a Special Committee of the Company's independent directors to conduct a formal structured sale process.
  • No decision has been made at this point with respect to the Management Buyout Offer or other offers.
  • The Board is evaluating the materials received and will provide shareholders with timely updates on the process.

Genetron Health Enters into Definitive Merger Agreement for Going Private Transaction

Retrieved on: 
Wednesday, October 11, 2023

BEIJING, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Genetron Holdings Limited (“Genetron Health” or the “Company”, NASDAQ: GTH), a leading precision oncology platform company in China that specializes in offering molecular profiling tests, early cancer screening products and companion diagnostics development, announced today that it has entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with New Genetron Holding Limited (“Parent”) and Genetron New Co Limited (“Merger Sub”), a wholly-owned subsidiary of Parent.

Key Points: 
  • BEIJING, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Genetron Holdings Limited (“Genetron Health” or the “Company”, NASDAQ: GTH), a leading precision oncology platform company in China that specializes in offering molecular profiling tests, early cancer screening products and companion diagnostics development, announced today that it has entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with New Genetron Holding Limited (“Parent”) and Genetron New Co Limited (“Merger Sub”), a wholly-owned subsidiary of Parent.
  • The Board, acting upon the unanimous recommendation of a committee of independent and disinterested directors established by the Board (the “Special Committee”), approved the Merger Agreement and the Merger and resolved to recommend the Company’s shareholders vote to authorize and approve the Merger Agreement and the Merger.
  • The Special Committee negotiated the terms of the Merger Agreement with the assistance of its financial and legal advisors.
  • In connection with the Merger, the Company will prepare and mail to its shareholders a proxy statement that will include a copy of the Merger Agreement.

Special Committee of Clarus Retains Houlihan Lokey as Financial Advisor

Retrieved on: 
Thursday, October 5, 2023

SALT LAKE CITY, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, today announced that in response to the previously disclosed non-binding indication of interest received from Warren B. Kanders, the Company’s Executive Chairman, to acquire the Company’s Precision Sport segment, the special committee of the Company’s Board of Directors, which is comprised of independent directors (the “Special Committee”), in accordance with its previously disclosed powers to engage financial advisors, has retained Houlihan Lokey as the Special Committee’s exclusive financial advisor for the potential sale of the Precision Sport segment of the Company.

Key Points: 
  • SALT LAKE CITY, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, today announced that in response to the previously disclosed non-binding indication of interest received from Warren B. Kanders, the Company’s Executive Chairman, to acquire the Company’s Precision Sport segment, the special committee of the Company’s Board of Directors, which is comprised of independent directors (the “Special Committee”), in accordance with its previously disclosed powers to engage financial advisors, has retained Houlihan Lokey as the Special Committee’s exclusive financial advisor for the potential sale of the Precision Sport segment of the Company.
  • Houlihan Lokey will assist the Committee in its evaluation of the transaction proposed by Mr. Kanders, and will, at the Committee’s request, assist in the solicitation of parties that have expressed an interest in, and other parties that may be interested in, acquiring the Precision Sport segment through a process intended to maximize the value to Clarus’ shareholders.
  • There can be no assurance that any definitive agreement will result from this process or that any transaction will be consummated, whether with Mr. Kanders or any other party.
  • The Company and the Special Committee do not intend to comment further unless and until they deem further disclosure is appropriate.

TECPETROL REMINDS SHAREHOLDERS OF ALPHA LITHIUM CORPORATION TO TENDER THEIR SHARES BEFORE OCTOBER 20TH DEADLINE

Retrieved on: 
Tuesday, October 17, 2023

The Alpha Special Committee and the Board of Directors have unanimously recommended that Alpha shareholders accept the revised and enhanced Offer from Tecpetrol and tender their shares.

Key Points: 
  • The Alpha Special Committee and the Board of Directors have unanimously recommended that Alpha shareholders accept the revised and enhanced Offer from Tecpetrol and tender their shares.
  • ("Tecpetrol") today issued a reminder to shareholders of Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) (German WKN: A3CUW1) ("Alpha") to tender their shares in advance of the Offer deadline of 5:00 p.m. (Vancouver time) on October 20, 2023.
  • Alpha shareholders who do not tender to the Offer will not receive the cash consideration of C$1.48 under the Offer.
  • 1 Lithium developer peers include Argosy Minerals, Galan Lithium, Lake Resources, Lithium Chile, Lithium South, Standard Lithium and Vulcan Energy.

Buyer Consortium Led by Recco Control Technology and Dazheng Group Issues Statement on Hollysys’ Formal Sale Process

Retrieved on: 
Thursday, October 5, 2023

Buyer consortium (“the consortium”) led by Recco Control Technology Pte.

Key Points: 
  • Buyer consortium (“the consortium”) led by Recco Control Technology Pte.
  • Ltd. (“Recco Control Technology”) and Dazheng Group (Hong Kong) Investment Holdings Company Limited (“Dazheng Group”) today issued a statement regarding Hollysys Automation Technologies Ltd.’s (NASDAQ: HOLI) (“Hollysys”) announcement that it has launched a formal sale process.
  • Members of the consortium also include TFI Asset Management Limited, and Great Wall Capital Co., Ltd, who have entered into a memorandum of strategic cooperation with Recco Control Technology and Dazheng Group in connection with the proposed acquisition of Hollysys.
  • The consortium welcomes Hollysys’ decision to explore strategic options to maximize value for its shareholders.

Startek Announces Agreement to be Acquired by Funds Managed by CSP Management Limited for $4.30 Per Share in Cash

Retrieved on: 
Tuesday, October 10, 2023

Under the terms of the agreement, CSP will acquire all shares of Startek common stock not already owned by CSP for $4.30 per share in cash.

Key Points: 
  • Under the terms of the agreement, CSP will acquire all shares of Startek common stock not already owned by CSP for $4.30 per share in cash.
  • On July 18, 2023, Startek received a preliminary non-binding proposal from CSP to acquire all shares of Startek common stock that it does not already own for $3.80 in cash per share.
  • Subsequently, the Startek Board, based on the recommendation of the Special Committee, unanimously approved the merger agreement.
  • Upon completion of the transaction, Startek will no longer trade on the New York Stock Exchange and will become a private company.

H2O Innovation Signs Definitive Agreement to Be Acquired by Ember Alongside IQ, CDPQ and Management

Retrieved on: 
Tuesday, October 3, 2023

“After extensive work we have concluded that this transaction is in the best interest of H2O Innovation and fair to our Shareholders.

Key Points: 
  • “After extensive work we have concluded that this transaction is in the best interest of H2O Innovation and fair to our Shareholders.
  • In addition to the attractive premium offered to H2O Innovation’s Shareholders, Ember has agreed to key commitments for H2O Innovation and its stakeholders.
  • Upon completion of the Transaction, Ember will be the controlling shareholder of H2O Innovation, with IQ, CDPQ and the key executives of H2O Innovation, together, holding an equity interest in the Corporation of approximately 21%.
  • Scotiabank acted as exclusive financial advisor to H2O Innovation and Desjardins acted as independent financial advisor to the Special Committee.