Solidion Technology Holds Below-Market Bid for Flux Power Firm
Solidion Technology is maintaining its below-market acquisition offer for Flux Power despite the target's board rejection, citing dilution risks and regulatory concerns.
Solidion Technology, Inc. (NASDAQ: STI) announced it is standing by its unsolicited takeover bid for Flux Power Holdings (NASDAQ: FLUX) at a price below current market levels, even after Flux Power's board formally rejected the proposal, according to a statement released from Dallas on October 5, 2026.
The company made clear it sees no justification for raising the offer price, arguing that Flux Power faces a combination of severely dilutive financing requirements, unresolved regulatory challenges, and meaningful default risk that collectively weigh on the target's intrinsic value.
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Solidion's decision to hold its ground rather than sweeten the bid represents an unusual posture in mergers-and-acquisitions activity, where acquirers typically raise offers after an initial rejection to demonstrate seriousness and build shareholder support. By contrast, Solidion appears to be pressing its case that Flux Power's headwinds justify a discounted valuation.
The standoff puts pressure on Flux Power's board to either defend its rejection publicly with detailed financial counterarguments or engage in negotiations, while shareholders of both companies will be watching closely for any escalation, including potential proxy campaigns or revised proposals from either side.
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