Jefferies has projected that Core Scientific (CORZ) shareholders will likely reject the proposed merger with CoreWeave (CRWV) on October 30. The investment bank highlighted that CORZ shares are trading 18% above the implied offer price, suggesting a lack of shareholder support. Proxy advisor ISS and major shareholder Two Seas Capital have also recommended voting against the merger, citing concerns over valuation and deal structure. Despite the potential rejection, Jefferies analysts believe Core Scientific can still generate value through alternative strategies such as leasing, power expansion, or transitioning to a Real Estate Investment Trust (REIT). Reflecting this potential, Jefferies has increased its price target for CORZ from $22 to $24.