Core Scientific Rejects CoreWeave’s $1.02B Offer
“The board concluded that the CoreWeave proposal significantly undervalues the company and is not in the best interests of the company and its shareholders,” Core Scientific announced in a statement.
Core Scientific received the unsolicited, non-binding proposal from CoreWeave on June 3. The offer aimed to acquire all of Core Scientific’s outstanding shares on a fully diluted basis for $1.02 billion, or $5.75 per share in cash.
Despite the rejection, the two companies have signed a series of 12-year contracts on the same day. These agreements include a deal where Core Scientific will provide CoreWeave with approximately 200 MW of infrastructure to support its high-performance computing services.
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