Are Blank Checks Bouncing Back?

These companies, created solely to make acquisitions, were all the rage in the '80s. Now, they're a growing sector of the IPO market

Back in the '80s, an obscure form of IPO known as the "blank check" drew scrutiny from securities regulators. In these deals, publicly held companies are created for the sole purpose of making acquisitions. They issue shares to the public in an IPO, and management is free to use the money as it wishes to buy up other companies.

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