Galaxy Digital and crypto custodian BitGo went head to head on Monday evening, over a year after acquisition plans had been announced.that it would not go through with its acquisition of BitGo, citing a "failure to deliver, by July 31, 2022, audited financial statements for 2021 that comply with the requirements of our agreement.” According to the release, no termination fee is payable.
Galaxy Digital first announced the acquisition of BitGo for $1.2 billion in May 2021, but later sought to renegotiate the deal. This change of mind comes after Galaxy Digital posted a mind-boggling $554 million loss in the second quarter."[We] inten[d] to take legal action against Galaxy Digital for its improper decision to terminate the merger agreement with BitGo, which was not scheduled to expire until December 31, 2022, at the earliest and to not pay the $100 million reverse break fee it had promised back in March 2022 in order to induce BitGo to extend the merger agreement.
This article contains links to third-party websites or other content for information purposes only . The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site.
Don’t miss out!!_,, ࠭
Come on Sort this out, you know you can Ask okx how they did it
Be very careful of the GMT coin, I swear it will go down to 0.200⛔️❌🚫🔻🔻
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Cointelegraph - 🏆 562. / 51 Read more »