Solidion Technology Holds Firm on Below-Market Flux Power Bid
Solidion Technology refuses to raise its acquisition offer for Flux Power after the target's board rejected the proposal, citing dilution and default risks.
Solidion Technology (NASDAQ: STI) said it has no plans to raise its below-market takeover offer for Flux Power (NASDAQ: FLUX) following a rejection from Flux Power's board of directors, the Dallas-based battery company announced in a press release dated Oct. 5, 2026.
Solidion cited what it described as serious financial headwinds facing Flux Power, including highly dilutive financing requirements, unresolved regulatory issues, and the risk of default. The company argued those conditions justify its offer price and leave no basis for sweetening the bid.
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The standoff underscores the tension common in contested acquisitions, where an acquirer presses a case that a target's independent board typically resists when the offer falls below prevailing market value. Flux Power's board has signaled it views the proposal as undervaluing the company, a posture Solidion's statement directly challenged.
Solidion Technology describes itself as an advanced battery company, positioning the potential deal as a strategic move within the energy storage sector. Whether the impasse evolves into a prolonged proxy fight or a renegotiated deal remains to be seen, as neither side has indicated a willingness to move off its stated position.
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