Deals
Burst of Broken SPAC Deals Another Blow to Battered Sector
- Four SPAC tie-ups have been terminated since Friday’s close
- More than 40 SPAC mergers have been canceled this year
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A flurry of terminated deals is hitting the blank-check industry in another signal that the sector is crumbling.
At least four planned mergers between special-purpose acquisition companies and target firms looking to go public have been canceled since the market close on Friday, bringing the year’s tally to 42. The wave of breakups deals a blow to the industry that many believe has gone bust, leaving some investors sitting on paper losses.