QualityStocksNewsBreaks – Forward Industries, Inc. (NASDAQ: FWDI) Reveals Unanswered Proposal to Acquire SkyAI in All-Stock Transaction
Forward Industries (NASDAQ: FWDI) disclosed that it submitted a non-binding proposal to acquire SkyAI in an all-stock business combination that would have provided SKYA shareholders with 0.367 newly issued Forward shares for each SKYA share, representing an implied value of approximately $1.55 per share and a 20% premium to SkyAI's closing price prior to the proposal. Forward said SkyAI did not respond before the proposal expired on June 12. Forward said it pursued the transaction because it believes SkyAI's recent pivot toward artificial intelligence has failed to close a valuation discount and that a combination would provide shareholders with exposure…