Dec 24 (Reuters) - Hollysys Automation Technologies Ltd :
* BUYER CONSORTIUM LED BY DAZHENG GROUP ANNOUNCES ENHANCED ALL-CASH PROPOSAL OF US$29.00 PER SHARE TO ACQUIRE HOLLYSYS
* DAZHENG GROUP - ENHANCED PROPOSAL IS 9.4% HIGHER THAN ASCENDENT CAPITAL OFFER AND IS BACKED BY SECURED FINANCING
* DAZHENG GROUP - CONSORTIUM HAS FULL CONFIDENCE THAT HOLLYSYS BOARD WILL DEEM ITS ENHANCED PROPOSAL SUPERIOR AND REMAINS READY TO ENTER INTO A MERGER AGREEMENT
* DAZHENG GROUP ACQUISITION - CONSORTIUM STANDS READY TO ENGAGE WITH HOLLYSYS BOARD, CONCLUDE DUE DILIGENCE PROCESS, SIGN MERGER AGREEMENT PRIOR JAN 22
* DAZHENG GROUP ACQUISITION - HAVE SECURED DEBT FINANCING. EQUITY FUNDING HAS ALSO BEEN ARRANGED FROM CONSORTIUM MEMBERS AND EQUITY FINANCING PARTNERS Source text for Eikon: Further company coverage:
