BitTorrent Tron Deal, it seems Tron was not the Highest Bidder

It is fascinating to know that Tron that acquired BitTorrent was not the highest bidder in the race. As reported by Coindesk one of the Tron’s top competitors Neo was in the quest to acquire the pioneering peer-to-peer file sharing software company BitTorrent.

According to Neo Blockchain’s head of investment, Weiyu “Wayne” Zhu, and internal BitTorrent documents obtained by CoinDesk, NGC’s bid was for $170 million, amounting to $50 million dollars more than Tron founder Justin Sun’s $120 million bid for the shares. However, Sun’s offer eventually succeeded.

Despite bidding $50 million more than Justin Sun, BitTorrent’s board nonetheless said in the documents that NGC’s offer was “not more favorable to the company and its shareholders” and accepted Sun’s proposal.

Read more at Coindesk


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