The former Goldmanite s SPAC is merging with Allwyn, implying an $8 bln market cap for the European lottery operator. There s a novel twist: Bonus shares will go to owners who don t redeem their stock. It should help an already sensible-looking bet get over a common SPAC hurdle.
The U.S. president along with China, India, and other nations that consume about half the world’s crude will tap stockpiles. Despite banding together, these fossil fuel users will have less impact than OPEC in the near term. But striking such alliances makes sense longer term.
The Abu Dhabi-owned chip manufacturer has filed for a U.S. IPO. It has tailwinds thanks to industry capacity shortages and Western countries’ desire to produce semiconductors at home. But it’s plagued by persistent losses and a reported $25 billion valuation looks a stretch.
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