The Pros And Cons Of SPAC Exits

Law360, New York ( July 9, 2015, 10:42 AM EDT) -- While robust merger and acquisition and initial public offering markets have given investors solid liquidity options, in some cases selling a company to a publicly traded special-purpose acquisition company, or SPAC, can be an appealing alternative. Recent examples in the United States include the $500 million acquisition by Levy Acquisition Corp. of Del Taco in June 2015 and the pending $879 million acquisition by Boulevard Acquisition Corp. of AgroFresh Inc., a subsidiary of The Dow Chemical Co. In the U.K., notable examples include Burger King going public in 2012 through a $1.4 billion merger with a U.K. SPAC....

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