"Under the math of the deal today, I would have to vote no,"
"the most compelling path forward for Core Scientific stockholders"
"The combination will offer Core Scientific and CoreWeave stockholders the opportunity to benefit from the tremendous upside potential and long-term value creation driven by greater verticalization,"
A large Core Scientific shareholder intends to reject the proposed CoreWeave purchase under the current terms. Gullane Capital, the third-largest shareholder, holds an approximately $200 million stake and opposes the takeover. Two Seas Capital, owning about 6.3% of shares, outlined objections on October 14 and urged investors to reject the transaction ahead of the October 30 shareholder vote. CoreWeave needs the roughly $5 billion acquisition to scale computing capacity and lower soaring costs, but a dip in CoreWeave’s stock weakened the offer’s value and intensified concerns that the deal undervalues Core Scientific. CoreWeave framed the deal as offering long-term upside through greater verticalization and described the present proposal as its best and final offer.
Read at Business Insider
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