RUMRumble’s deal hunt is getting serious
Rumble just announced the initial results of its exchange offer for Northern Data, and the headline number is the one to watch: 5,708,665 shares were tendered during the initial acceptance period. Put differently, Rumble says it has now secured roughly 81.3% of Northern Data’s outstanding shares.
That’s not exactly pocket change. It’s the kind of threshold that can turn a “maybe” into a “yep, we’re really doing this” moment for a strategic transaction. If you’re an investor, the big question is whether this nudges the market closer to a full combination, deeper control, or at least a much more likely path to closing.
Why this matters
A transaction like this can reshape the story for both companies:
- For Rumble, it suggests management is willing to swing bigger and build beyond its core platform.
- For Northern Data, the tender level signals shareholders are taking the offer seriously, even if the deal still has a few procedural hoops to jump through.
Exchange offers can be a little like a dating app with lawyers — lots of swiping, lots of conditions, and everyone waiting to see who actually shows up at the end. But once a bidder locks up this much of the target, the odds of something meaningful happening get a lot higher.
Big picture
This is still a process update, not a victory lap. But 81.3% secured is the kind of number that keeps merger-watchers awake and gives Rumble investors another reason to think the company is trying to become more than just a niche media platform.