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A deal premium, meaning the extra amount a buyer offers above a stock's market price to get shareholders to approve a sale, just got larger.
Forward Industries (NASDAQ: FWDI) raised its takeover offer for SkyAI (NASDAQ: SKYA) on Tuesday, proposing terms that would value each SkyAI share at roughly $2.13, a 50% premium to SkyAI's $1.42 close on Monday.
Under the revised terms, SkyAI shareholders would receive the value of 0.306 Forward shares per share they own, with the option to take cash, Forward stock, or a mix of both.
Forward calculated the per-share value using its own $6.95 closing price from Monday. The offer is non-binding, and it remains subject to regulatory approvals and a shareholder vote.
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