Pegasus SPAC set to take European finance firms public cmcmarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cmcmarkets.com Daily Mail and Mail on Sunday newspapers.
Bernard Arnault helps Europe jump aboard the Spac bandwagon
The market for blank cheque firms has got off to a slow start on this side of the Atlantic – but it is growing
17 February 2021 • 6:00am
Bernard Arnault, one of the world’s wealthiest men, amassed his fortune through savvy M&A deals over a four-decade-long career, so it should come as little surprise that the LVMH boss is taking the European lead on the latest dealmaking craze: special purpose acquisition vehicles – or “Spacs”.
Spacs are types of “blank cheque” firms typically listed as a cash shell on a stock exchange with a promise to swoop on a takeover target.
January 14, 2021
Xavier Rolet, the former CEO of London Stock Exchange Group, has jumped into the boom in “blank check” companies. But instead of going public in London at his old employer, the special purpose acquisition company (SPAC) he joined raised money in New York.
“The US market is really the market that knows how to price future growth,” he said in a telephone interview. And as for SPACs: “It’s a structure which gives you speed, opportunity to invest, and helps convert and monetize some promising privately held companies that have successfully positioned themselves to take advantage of technological changes in a post-Covid world,” Rolet said.
Golden Falcon Acquisition Corp : annonce la clôture de son premier appel public à l épargne pour une valeur de 345 millions de dollars zonebourse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zonebourse.com Daily Mail and Mail on Sunday newspapers.