SPACS have taken the dealmaking business by storm in 2020. “Hedge funds give the SPAC money for up to two years while it looks for a merger target. In return, they get a unique right to withdraw their investment before a deal goes through that minimizes any loss on the…
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Tidjane jumps on the bandwagon, too.
https://www.ft.com/content/5046b90a-6e92-4760-9330-7e967cc85c01
Why Buy a SPAC before it has a target ?https://www.fool.com/investing/2021/01/29/why-buy-a-spac-before-it-identifies-a-target/
“Wheels Up Partners LLC is in talks to go public through a merger with blank-check acquisition company Aspirational Consumer Lifestyle Corp in a deal which could value the private jet charter company at more than $2 billion.” – via Reuters, Jan 25, ’21