Kyndryl, Inc.

Kyndryl put a number on its intended purchase of Solvinity: approximately €100 million in cash for all outstanding equity. That number described a negotiated bargain, not a completed asset. Regulatory approval remained a closing condition, the Dutch State Secretary later prohibited the transaction, and Kyndryl's next quarterly filing still called Solvinity a proposed acquisition. The market record therefore has to keep four states apart: a signed price, ownership that did not transfer, a cloud service that continued to operate, and remedies whose value and direction remain unresolved.