Core Scientific Investors Spurn CoreWeave Takeover in Vote (3)

Core Scientific Inc. shareholders rejected a takeover bid by CoreWeave Inc. that proxy advisers said undervalued the data center company, ending a contentious monthslong saga.

At a special meeting of Core Scientific shareholders, the agreement failed to win the requisite number of votes, according to a statement Thursday. Core Scientific terminated the merger pact and said it would remain a publicly held company.

Following the vote, Core Scientific shares rose 6% to $22.02 in New York trading. CoreWeave dropped 6.8% to $130.47.

CoreWeave had agreed to buy Core Scientific in July for $9 billion — part of an M&A spree ...