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Longacre Square Partners handles Colorado’s Riot Platforms as it makes a $950M cash/stock bid to acquire its smaller Bitcoin miner Bitfarms Ltd, which relies on Joele Frank, Wilkinson Brimmer Katcher for media support.
A successful deal would create the world’s No. 1 publicly traded Bitcoin miner.
Riot, which is Bitfarms largest stakeholder with a 9.25 percent ownership position, plans to call for a special meeting of shareholders to add new independent directors to Bitfarms’ board.
It originally made its takeover proposal on April 22 and was rebuffed by Bitfarms without “engaging in a substantive dialog with us,” according to Riot executive chairman Benjamin Yi.
Canada-based Bitfarms says Riot’s offer undervalues the company and its growth prospects. It is exploring strategic options.
Longacre has Joe Germani and Dan Zacchei representing Riot Platforms, while Joele Frank’s Dan Katcher and Joseph Sala work the US media for Bitfarms.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
