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FCA Spac changes to have 'significant impact' on UK advice M&A


FCA Spac changes to have ‘significant impact’ on UK advice M&A
Lowering threshold for initial listing to £100m ‘makes it a perfect size for an acquisition vehicle’
Looser regulatory restrictions around special purpose acquisition companies (Spacs) could have a “significant impact” on the UK financial advice market as investors look for alternative routes to tap into rampant consolidation in the space.
A Spac is a corporation formed for the sole purpose of raising investment capital through an initial public offering (IPO). When the Spac raises the required funds through an IPO, the money is held in a trust until the desired acquisition is made. ....

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City warns over UK dash to join Spacs craze


The Chancellor’s plans for a UK Spacs boom have been met with heavy criticism from top financiers and brokers.
In a bid to boost the London stock market, Rishi Sunak has proposed easing rules on the new finance craze that is sweeping Wall Street.
A review by Lord Hill, a former EU commissioner, has advocated scrapping the requirement for so-called special purpose acquisition companies (Spacs) to suspend their shares once they have identified a target.
A review by Lord Hill (pictured), a former EU commissioner, has advocated scrapping the requirement for Spacs to suspend their shares once they have identified a target. ....

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