Crypto News: Riot Platform's Strategic Settlement with Bitfarms
Riot's Acquisition Hurdles: The Poison Pill Strategy
On September 23, 2024, Riot Platforms issued an official statement detailing a settlement agreement with Bitfarms Ltd., effectively bringing an end to Riot’s unsolicited bid to acquire the company. As part of this agreement, Riot has withdrawn its requisition for a special meeting of Bitfarms' shareholders, and several board-level changes were made to ensure a smoother strategic review process for Bitfarms.
Amy Freedman Joins Bitfarms' Board
According to the statement, Bitfarms has appointed Amy Freedman to its Board of Directors. This appointment comes as Andrés Finkielsztain resigned as part of the settlement. Freedman, a key figure in corporate governance, will join the Board’s Governance and Nominating Committee and Compensation Committee. The agreement allows her to participate in any special committees of independent directors that may be constituted in the future.
Future Monitoring of Stake
Riot has indicated to monitor its stake in Bitfarms closely. However, the firm has yet to plan any immediate takeovers.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.