U.S. Treasury · Decrypt
Last week, Brera’s board similarly rejected the proposal without engaging the firm
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Forward, which acquired nearly 7 million SOL last year for around $1.6 billion, also made an acquisition offer to SkyAI (SKYA), another Solana treasury firm formerly known as Sharps Technology, but did not receive a response by the expiration of the proposal on June 12.
Key facts
- Forward, which acquired nearly 7 million SOL last year for around $1.6 billion, also made an acquisition offer to SkyAI (SKYA), another Solana treasury firm formerly known as Sharps Technology
- SOL has gained nearly 11% in the last 24 hours, trading around $75
- Shares in Brera Holdings (SLMT) have jumped more than 7% in trading on Monday, recently changing hands at $4.71
- Meanwhile, HSDT and SKYA are up double digits, surging nearly 12% and 14% respectively
Summary
Forward Industries has proposed acquisitions to three of its rival Solana treasury firms. Two of the firms rejected the offers, while one did not respond before the offer expiration. Shares in all firms are surging on Monday with Solana and other cryptocurrencies up big. Forward Industries, the largest publicly traded Solana treasury company, was rejected on unsolicited takeover bids for competing SOL-accumulating firms the Solana Company and Brera Holdings, the firm announced. The proposals sought all-stock business combinations, with shareholders of both Solana Company (HSDT) and Brera Holdings (SLMT) respectively set to receive shares of Forward Industries (FWDI), should the proposals have been accepted.