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 exchanged 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 and gain access to Core Scientific’s U.S. infrastructure footprint.
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.
The deal would have given CoreWeave access to over 1 gigawatt of operational capacity.
Author's summary: Shareholders reject CoreWeave's $9B bid for Core Scientific.