(Reuters) – China-focused private equity firm Ascendent Capital said it wants to take Hollysys Automation Technologies private in a deal that will value the Chinese automation control system provider at around $1.61 billion. Ascendent, which holds a 13.7% stake in Hollysys as the biggest shareholder, proposed a non-binding, all-cash offer to buy all the remaining Hollysys shares at $26 each, a 26.2% premium to the closing price on Nov. 3, it said in a letter to Hollysys board published on Monday. Ascendent's latest bid comes amid a few other takeover offers. Hollysys management team proposed last month a consideration of…