SkyAI Rejects Acquisition Bid From Forward Industries, Announces Tender Offer
SkyAI has announced its decision to reject a proposed acquisition by Forward Industries and instead plans to launch a tender offer for up to 95% of each class of its outstanding common stock at $3.00 per share. The move signals SkyAI's intent to remain independent while offering shareholders the opportunity to sell their shares at a premium price. The rejection of Forward Industries' unsolicited bid suggests that management believes an acquisition is not in the best interest of shareholders or the company’s long-term strategy. By initiating its own tender offer, SkyAI aims to consolidate ownership and potentially streamline operations without external interference from potential acquirers.
Tickers: $FORD
Topics: acquisition rejection buyback tender offer