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Foley-Backed SPAC Agrees to $7.3 Billion Deal With Alight

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Blackstone Group Inc.’s Alight Solutions has agreed to go public via a merger with a special purpose acquisition company backed by investor Bill Foley.

The deal by Foley Trasimene Acquisition Corp would value Alight, a benefits administrator business, at about $7.3 billion including debt, the companies said in a statement Monday.