Market Chatter: CoreWeave Doesn't Plan to Change its Bid for Core Scientific

MT Newswires Live

Oct 08

CoreWeave (CRWV) doesn't plan to change its $9 billion bid for Core Scientific (CORZ), Bloomberg reported Tuesday, citing CoreWeave chief executive officer Michael Intrator from an interview on Bloomberg Television.

Intrator's comments come after Core Scientific investor Two Seas Capital issued a letter last month to shareholders explaining its opposition to the deal under the planned terms, which include "an inadequate valuation, a deficient structure and a flawed process."

"Really under no circumstances will we readdress the bid that we put out," Intrator said, according to Bloomberg.

Shares of CoreWeave and Core Scientific were down 3.6% and 4.6% in recent Tuesday trading.

CoreWeave and Core Scientific did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 129.77, Change: -4.09, Percent Change: -3.05

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