CoreWeave CEO said the $9B proposed acquisition of Core Scientific is optional as investors push back. Shareholders and analysts argue the offer undervalues Core Scientific, with key investors urging rejection ahead of the October 30 vote.
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02CoreWeave CEO Michael Entrader told CNBC the proposed acquisition of Core Scientific is optional, not essential, and shareholders may block the deal.
00:10CoreWeave proposed a $9 billion all-stock acquisition of Core Scientific in July, causing Core Scientific shares to drop nearly 18% after the announcement.
00:18Institutional Shareholder Services recommended voting against the acquisition, saying Core Scientific's rising share price suggests investors see higher value than the offer.
00:26CoreWeave, which provides NVIDIA-powered AI infrastructure hyperscalers like Microsoft, has no plans to raise its bid.
00:342C's Capital, a major core scientific shareholder, also urge investors to reject the deal, calling it underwhelming.
Be the first to comment