Forward Industries (NASDAQ: FWDI) announced on July 21, 2026, that it will not pursue an acquisition of Brera Holdings PLC.
The decision follows a non-binding all-stock proposal submitted by Forward in early June. Brera’s board of directors rejected that initial offer.
Under Irish Takeover Rules, Forward is now prohibited from making another offer for Brera for six months. This restriction stands unless specific exempting circumstances occur.
The announcement ends market speculation and removes the acquisition premium from the share price. This provides shareholders clarity regarding the company’s immediate strategic direction.