SPAC phenomenon helps global M&A break $1 trillion barrier in first quarter
Cazoo founder Alex Chesterman has nailed at least two-thirds of his company s motto
It has been a flying start for global M&A this year with blank-cheque vehicles becoming one of the principal drivers of deal-making.
Special acquisition companies – SPACs – have become the go-to option for firms looking to go public. For targets the vehicles are potentially an easier route to market than a traditional IPO.
The largely US phenomenon has fuelled a rush of deals worth $1.3 trillion in the first quarter, according to figures from Refinitiv. A number of the biggest deals involved a SPAC, with the value of combinations totalling $172bn.
The snack company expects up to 3.5% decline in full-year net sales.
Campbell shares were 2% down in premarket trading on Wednesday.
Campbell Soup Co. (NYSE: CPB) said on Wednesday that its sales in the fiscal second quarter fell shy of Wall Street estimates. The company, however, posted adjusted per-share earnings that were in line with what the analysts had anticipated.
Campbell Soup shares were reported about 2% down in premarket trading on Wednesday. Including the price action, the stock now is now trading at £33 per share after recovering from a low of £29.84 per share in the last week of March 2020.
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The European Commission revealed Ireland is predicted to have the highest
debt per capita in Europe. Each person in the country will owe the equivalent of €48, 291 as government debt grew to €241.6 billion. Debts per capita were forecasted to be €71,808 per person in America and €91,060 per person in Japan.
AerCap Holdings, the Irish aircraft leasing company, neared an agreement to merge with General Electric Capital Aviation Services, the jet leasing.
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