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Three Solana treasury firms reject Forward Industries' acquisition bids amid consolidation push

Market News
17 Jun 2026
Blockonomi
View Source
Neutral
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Forward Industries, holding over 7 million SOL tokens worth about $525 million, faced rejection from three Solana digital asset treasury companies—Solana Company (HSDT), Brera Holdings, and SkyAI—over its acquisition proposals. Solana Company’s board unanimously rejected the offer, citing undervaluation, while Brera Holdings and SkyAI also declined or ignored the bids. Solmate accused Forward of a secret hostile takeover plan, which Forward denied. Despite setbacks, Forward’s shares rose 8.6%, reflecting investor interest as the company leads a sector consolidation effort amid pressure on smaller operators to merge for sustainability.

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