Forward Industries Faces Rejection in Solana Treasury Acquisition Attempts
- Forward Industries proposed acquisitions to three rival Solana treasury firms.
- Two firms, Solana Company and Brera Holdings, rejected the offers without discussion.
- SkyAI did not respond before the proposal expired on June 12.
- Shares of HSDT and SKYA surged nearly 12% and 14%, respectively.
- Forward Industries acquired nearly seven million SOL for around $1.6 billion last year.
Forward Industries’ attempts to acquire its rivals in the Solana treasury space were met with rejection or non-response, despite their belief that such mergers would benefit shareholders and strengthen the Solana ecosystem.
Despite these setbacks, shares of related companies experienced significant increases, indicating market optimism or reaction to Forward’s acquisition attempts. Source
