Core Scientific Shareholders Reject $9B CoreWeave Deal
Core Scientific Inc. shareholders have voted down a proposed $9 billion takeover bid by CoreWeave Inc., citing valuation concerns.
The takeover offer, announced in July, would have involved exchanging each Core Scientific share for 0.1235 shares of CoreWeave Class A stock.
CoreWeave pitched the merger as a strategic play to expand its footprint in high-performance data centers.
However, Core Scientific investors argued that the all-stock deal undervalued the company's recent recovery and growth potential in the artificial intelligence colocation market.
- Proposed deal: $9 billion takeover bid by CoreWeave Inc.
- Share exchange: 0.1235 shares of CoreWeave Class A stock for each Core Scientific share
- Core Scientific's infrastructure footprint: over 1 gigawatt of operational capacity
Author's summary: Core Scientific shareholders reject CoreWeave's $9B takeover bid due to valuation concerns.
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