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The Latest SPAC News and Rumors: October 20, 2022


The Latest SPAC News and Rumors: October 20, 2022


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Xfinity becomes official internet and mobile partner of FaZe Clan and Starboard Value takes stake in data center business Vertiv 

Xfinity Becomes Official Internet and Mobile Partner of FaZe Clan

Xfinity and FaZe Holdings Inc. (Nasdaq: FAZE) (“FaZe Clan”), the lifestyle and media platform rooted in gaming and youth culture, today announced plans to develop original content, private fan events, exclusive merchandise, and more, further expanding upon an agreement that recently began with FaZe Swagg’s appearance in Xfinity’s Unbeatable Internet campaign with Ed Helms. The goal of the partnership is to celebrate creators, the gaming industry’s biggest moments, and to highlight the integral role that fast and reliable connectivity to the Internet plays in the ecosystem. Xfinity will become the official Internet and Mobile provider for FaZe Clan.


Starboard Takes Stake in Data Center Business Vertiv

Starboard Value has built a sizable position in Vertiv Holdings Co. (NYSE:VRT), as another company that went public via a blank-check deal becomes a target for activism.

Starboard disclosed a 7.4% stake in the supplier of equipment and services for data centers in a regulatory filing Thursday, confirming an earlier report by Bloomberg News. The firm said in the filing that it believed the company was undervalued.

Vertiv, previously a division of Emerson Electric Co., went public in 2020 via a merger with a SPAC backed by Goldman Sachs Group Inc. and led by David Cote, who was previously CEO of Honeywell International Inc. and TRW Inc.