CoreWeave’s chief executive has characterized the proposed acquisition of Core Scientific as non-essential despite the ongoing $9 billion deal. Shareholder opposition led by Two Seas Capital and critical analysis from Institutional Shareholder Services have raised questions about the transaction’s valuation and process.
Acquisition Faces Mounting Opposition
CoreWeave’s planned $9 billion acquisition of data center provider Core Scientific is encountering significant resistance from shareholders and proxy advisory firms, according to recent reports. The deal, which would transfer Core Scientific’s substantial 1.3GW data center capacity to the AI cloud firm, was initially agreed upon on July 7 as an all-stock transaction.