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Scale AI Eyes $25 Billion Valuation in Potential Tender Offer Amid AI Boom

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Scale AI, a rapidly growing artificial intelligence startup, is seeking a valuation as high as $25 billion in a potential tender offer, according to a report from Business Insider. The company, which has seen rising demand for AI services, aims to leverage the current AI boom, which has attracted significant attention from major tech players.

The startup, based in California, is in discussions regarding the terms of the tender offer, which could involve investors or the company purchasing shares from existing shareholders. However, the final valuation may change depending on negotiations.

Founded in 2016, Scale AI is already valued at nearly $14 billion, as per its last funding round. The company counts tech giants such as Nvidia, Amazon, and Meta among its backers. Scale AI specializes in providing high-quality, accurately labeled data essential for training machine learning models, including advanced tools like OpenAI’s ChatGPT.

Despite its success, the company is currently under investigation by the U.S. Department of Labor regarding compliance with the Fair Labor Standards Act, adding a layer of regulatory scrutiny.

Emerson Declares $265 Per-Share Bid for Aspen as “Best and Final”

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Emerson Electric (EMR.N) has stated that its $265 per-share offer for Aspen Technology (AZPN.O) is its “best and final” price. This announcement comes just days after activist investor Elliott Management revealed it had invested over $1.5 billion in Aspen, challenging the company’s decision to accept Emerson’s $7.2 billion tender offer.

UBS analysts highlighted that Emerson’s break price is around $202, though the exact value is difficult to pin down. The analysts noted that this makes the bid less likely to see further increases, as it relies on the assumption that Emerson would prefer to avoid a failed tender offer.

Emerson, which already owns 57% of Aspen, agreed last month to acquire the remaining shares of the industrial software supplier. The all-cash tender offer is set to expire on March 10, provided that the minimum number of shares are tendered by that date.

Telcos Advanced Info and Thaicom Urge Investors to Reject Acquisition Offers Amid Parent Merger

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The boards of Thailand-based mobile carriers Advanced Info Service (AIS) and Thaicom have urged investors to reject acquisition offers under the proposed merger of their respective controlling entities. This comes as part of an ongoing restructuring process by Gulf Energy Development, the largest shareholder of Thaicom, and Intouch Holdings, the controlling entity of Advanced Info Service.

In July 2024, Gulf Energy and Intouch announced plans to merge, aiming to form a new company valued at 1.037 trillion baht ($30 billion). This move is designed to enhance operations and optimize investments between the two companies. The merger has already been approved by shareholders of Gulf, led by Thai billionaire Sarath Ratanavadi, who is the country’s fifth-richest individual, with a net worth of $15.1 billion according to Forbes.

A tender offer was made by Gulf, Intouch, and Singtel to acquire Advanced Info Service, initially valuing the company at 216.30 baht per share, later lowered to 211.43 baht. However, Advanced Info’s financial adviser found the revised price to be below its estimated valuation range of 229.55 to 285.70 baht per share, leading the company to ask investors to reject the offer. In response, Gulf Energy confirmed the tender offer price is final and they do not plan to revise it.

Similarly, Gulf, Intouch, and Sarath made a similar tender offer to purchase 58.9% of Thaicom at 11 baht per share. Thaicom has also recommended that investors vote against the deal, pointing to its rising stock price since the merger announcement. Thaicom’s shares ended flat at 12.3 baht on Thursday.

The rejection of the offers by both companies’ boards has not disrupted the merger process. Varorith Chirachon, head of investment research at SCB Asset Management, stated that the market had anticipated this move and noted that the stock prices for both companies are higher than the offered prices, meaning the rejection of the tender offers does not pose a significant risk to the merger.