Riot offers $950 million to buyout Bitfarms in hostile takeover amid CEO controversy

Riot Platforms has announced a proposal to acquire Bitfarms for approximately $950 million, reflecting a 24% premium to Bitfarms’ one-month volume-weighted average share price as of May 24. According to the press release, Riot’s decision to make a hostile takeover bid follows Bitfarms’ Board of Directors’ rejection of its private proposal without substantive engagement. The […] source: https://cryptoslate.com/riot-offers-24-premium-to-buyout-bitfarms-in-hostile-takeover/