Elliott Management Seeks to Raise $1 Billion to Create SPAC: DJ
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Elliott Management Corp., a hedge fund known for its activist shareholder campaigns, is meeting with bankers to raise more than $1 billion to fund a special purpose-acquisition company, Dow Jones reported Sunday.
The process is at an early stage and plans could change, Dow Jones said, citing people familiar with the matter who weren’t identified. Elliott, founded by billionaire Paul Singer, could use the proceeds to buy a company potentially worth double-digit billions, based on targets similarly sized SPACs have agreed to deals with, the report said.