The Latest SPAC News and Rumors: July 9, 2021
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Polestar in talks to merge with Gores Guggenheim while Equinox breaks off merger with Palihapitiya-backed SPAC
Volvo-Backed Polestar Is in SPAC Merger Talks With Gores Guggenheim
Electric-car maker Polestar, which is controlled by Volvo Car AB and its owner Zhejiang Geely Holding Group Co., is in talks to go public through a merger with blank-check firm Gores Guggenheim Inc. Gores Guggenheim rose as much as 7.7% on the news.
A transaction may value the combined company at around $25 billion, according to Bloomberg.
READEquinox’s Merger Talks With Palihapitiya-Backed SPAC Have Ended
Luxury gym operator Equinox Holdings is no longer in talks to go public through a merger with a blank-check company backed by investor Chamath Palihapitiya.
Negotiations between Social Capital Hedosophia Holdings Corp. VI and Equinox fell apart due to a disagreement over the combined company’s valuation.
Bloomberg News in May reported the two parties were in discussions regarding a transaction that may have valued the merged entity at more than $7.5 billion.
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