Deals
Foley SPAC Said to Be in Merger Talks With Paysafe
- Firm would go public via Foley Trasimene Acquisition Corp. II
- Combined company would be worth more than $10 billion
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A blank-check firm led by billionaire Bill Foley is in talks to merge with Paysafe Group Ltd., an online payments firm backed by Blackstone Group Inc. and CVC Capital Partners, according to people with knowledge of the matter.
Foley Trasimene Acquisition Corp. II has begun discussions with investors to raise more than $1 billion in new equity to support a transaction, which would give the combined entity a valuation of more than $10 billion, including debt, said the people, who asked to not be identified because the talks are private. Talks are ongoing and could still fall apart, the people said.