Bill Foley-Backed SPAC Makes $7.3B Deal With Alight
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Blackstone Group Inc.’s Alight Solutions has agreed to go public via a merger with a blank-check special acquisition firm backed by investor
Bill Foley, according to the companies.
The deal by
Foley Trasimene Acquisition Corp would value Alight, a benefits administrator business, at about $7.3 billion including debt, the companies said in a statement.
Based in Lincolnshire, Illinois, Alight provides human-resource support services such as payroll, health benefits and employee communications for large companies in 188 countries, according to its website. The company was a division of
Aon Plc until Blackstone bought it in 2017 in a transaction valued as much as $4.8 billion. Since then, Alight has acquired several other human-resources and technology companies.