Forward Industries Attempts Acquisitions of Rival Solana Treasury Firms
Forward Industries has made three acquisition proposals to rival firms within the Solana treasury space, all of which have been rejected or gone unanswered, according to Decrypt. The company, which is the largest publicly traded Solana treasury firm, expressed disappointment over the lack of communication from its competitors regarding the offers.
Forward Industries, the largest publicly traded Solana treasury firm, has recently proposed acquisitions to three competing Solana treasury firms: the Solana Company and Brera Holdings, among others. Both the Solana Company and Brera Holdings rejected Forward's unsolicited takeover bids, while a proposal to SkyAI went unanswered before the offer expired on June 12.
Forward expressed surprise at these rejections, stating, "We are disappointed and surprised that the HSDT board has chosen to reject Forward’s offer without any discussion or communication." The firm believes engaging in dialogue would benefit both parties and their shareholders, as well as strengthen the Solana ecosystem.
Despite the rejections, Forward Industries has experienced a stock price increase of over 14% due to a broader market rally, largely influenced by a recent peace deal between the U.S. and Iran. Currently, shares of Forward Industries trade at approximately $4.89. Meanwhile, Solana and its governance token, SOL, have also risen nearly 11% in the last 24 hours, trading around $75.
Forward has previously acquired nearly 7 million SOL for about $1.6 billion and persists in its belief that strategic combinations with rival firms could enhance shareholder value. The firm has expressed a clear intention to drive cooperative growth within the Solana ecosystem, aligning with its vision for a more effective treasury management structure.
As market fluctuations occur, stakeholders across the Solana space will be watching closely for any future developments regarding Forward Industries' strategy and potential talks with its rivals.
Summary based on original reporting by Logan Hitchcock at Decrypt, originally published Jun 15, 2026. SolanaWire does not republish source content.
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