Solana Treasury Company Forward Industries (FWDI) announced that its all-stock acquisition proposal to another Solana Treasury Company, Solana Company (HSDT), has been rejected by the latter's board of directors. According to the plan, HSDT shareholders can exchange 1 share of HSDT for 0.386 shares of newly issued Forward common stock, equivalent to approximately $1.63 per share, a premium of about 10% over the previous trading day's closing price of $1.48. Forward stated that the HSDT board voted to reject the proposal on June 12 and chose not to engage in further discussions. The company expressed disappointment and believes that engaging in dialogue is in the best interests of shareholders.

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GateUser-1c5ab2b5
· 8h ago
$1.63 per share with a 10% premium, not stingy in a bear market anymore, does HSDT think it can wait a bit longer?
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FeeSwitchLobbyist
· 8h ago
Voting took place on June 12th, and it's only being announced now; the timing of information disclosure is also deliberate.
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0XsundayCook
· 8h ago
Full stock acquisitions bind the long-term interests of both parties' shareholders; refusing to do so indicates a lack of confidence in one's own holdings.
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GateUser-1bc81bb2
· 8h ago
It feels like Solana’s fund-holders have been sizing each other up lately, and everyone wants to be the boss.
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BudgetDeFi
· 8h ago
HSDT's rejection this time is pretty firm, not even tempted by a 10% premium
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