Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Ackman re-engages with target following deal for UMG stake, Syniverse in talks to merge with M3-Brigade, and Sebi to announce SPAC framework
Ackman Re-Engages With SPAC Target After Deal for UMG Stake
Bill Ackman said he has already re-engaged with a potential target for his remaining SPAC after reaching a deal to buy a 10% stake in Universal Music Group before its spinoff from Vivendi SE this year.
Ackman said he remains open to other opportunities, and may consider a majority stake or 100% ownership of a new target company after the restraints are lifted on the Remainco following the Vivendi deal.READ
Carlyle-Backed Syniverse is in M3-Brigade SPAC Merger Talks
Carlyle-backed messaging company Syniverse Technologies LLC is in talks to go public through a merger with M3-Brigade Acquisition II Corp., people with knowledge of the matter told Bloomberg.
M3-Brigade is seeking new equity to support a transaction that’s set to value Tampa, Florida-based Syniverse at about $3 billion including debt.READ
Sebi Plans To Come Out With Framework For SPACs
Indian capital market regulator Sebi is planning to come out with a guideline on SPACs which will enable listing of startups on domestic stock exchanges. The framework is expected to be announced as soon as next week.READ
London is Missing Out On Europe’s Record $4.4B SPAC Boom
2021 is already the best year for SPACs in Europe, and investment bankers estimate another 50 deals in the pipeline. The Wall Street boom in blank check companies is making its way across the pond, with annual records already smashed in the past three months as SPACs hit European exchanges, but the city of London has yet to be invited.
Three SPACs have listed the London Stock Exchange in 2021, with only one, the $181m tech-focused AdvancedAdvT Limited in March, raising more than $2m, according to Financial News. Meanwhile, the $485m Hedosophia European Growth SPAC and the $150m listing by Crystal Peak Acquisition chose to list in Amsterdam.READ