Forward Industries targets Solana Company with all-stock acquisition bid

Forward Industries (NASDAQ: FWDI) disclosed on June 15 that it submitted a non-binding proposal to acquire Solana Company (NASDAQ: HSDT) through an all-stock deal.  However, Solana Company’s board rejected the offer without negotiation, according to Forward’s public statement. The proposal offered HSDT shareholders 0.386 newly issued Forward Industries shares per HSDT share, valuing each at...