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Entries tagged "SPAC"SPAC attack, new or old?Are special purpose acquisition companies back, as The Wall Street Journal suggests, or have they never left the scene? Hicks' SPAC boosts second acquisition attempt with incentivesTexas buyout veteran Tom Hicks' special purpose acquisition company is giving its second acquisition attempt a better shot at success. Hicks Acquisition Co. said Monday it has agreed to buy Resolute Natural Resources Co. for $582 million, after canceling a $3.2 billion bid to purchase Blackstone Group LP-backed Graham Packaging Holdings Co. on July 21. Hicks and Blackstone amended terms of the transaction earlier this year when it seemed to falter amid poor shareholder reception. Founded in 2004, Resolute is a Denver-based oil and natural gas exploration company owned by Irving, Texas, private equity firm Natural Gas Partners. This... Greenhill-backed SPAC soaks up warrants overhangBlank-check company GHL Acquisition Corp. said Wednesday it had agreed to repurchase and restructure about 27 million warrants in a bid to significantly reduce the warrants overhang on its proposed $517.3 million reverse merger with Iridium Holdings LLC. The special purpose acquisition company sponsored by New York investment bank Greenhill & Co. said the warrants from these agreements, combined with previously announced warrants repurchases, represent nearly 70% of the 44.1 million warrants that would have been outstanding following the acquisition of the Bethesda, Md., satellite operator. This is a free content preview. Subscribers enjoy access to all stories in... Colonial BancGroup sheds pair of banksGlobal Consumer Acquisition Corp., a special purpose acquisition company, on Tuesday announced agreements to acquire 21 Nevada branches operated by Colonial BancGroup Inc. and to purchase 1st Commerce Bank, a Las Vegas-based single-branch bank operated by Capitol Bancorp Ltd. Under the terms of the Colonial BancGroup deal, GCAC will pay $28 million to assume $440 million of loans and about $492 million in deposits. The $28 million price is a deposit premium based on 9.33% of the Nevada banks' $305 million in "non-time deposits," which are checkings and savings deposits. The price is subject to negotiation if that deposit... It's 'do or die' for 2007 class of SPACsThe clock is ticking on the SPACs that went public in 2007 to do a deal or face liquidation. Coyotes melt into bankruptcyThe Chapter 11 bankruptcy filing of the National Hockey League's Phoenix Coyotes follows years of the league's expansion into Sun Belt states, where hockey has no history. SPAC may buy NHL's PanthersSpecial purpose acquisition company Sports Properties Acquisition Corp. AMEX:HMR) is reportedly in talks to buy the Panthers. TouchTunes agrees to be acquired by SPACSpecial purpose acquisition company Victory Acquisition Corp. announced Tuesday its agreement to acquire VC-backed jukebox company TouchTunes Corp. in an all-stock deal valued at up to $370 million. New York-based TouchTunes, backed by VantagePoint Venture Partners, will become publicly listed after the transaction is completed, presumably next month. Stockholders must still approve the deal, with a merger proxy statement scheduled for dissemination April 13. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an... Bulldog's Goldstein's harsh words for corporate boardsPhillip Goldstein, a principal at hedge fund Bulldog Investors, was the keynote interview at The Deal's M&A Outlook 2009 conference Tuesday. The colorful head of Bulldog focuses on small caps, SPACs and has been involved in about 30 proxy fights over the past few years. ... Sidhu to the rescue of troubled Florida bankIt seems a little premature of Deal Zone to declare ousted Sovereign Bancorp CEO Jay Sidhu "the comeback kid," but he certainly seems to be building a new foundation for a return. ... SPAC IPOs take off in EuropeThe IPO market may be closed for business in the U.S., but new offerings from special purpose acquisition companies are surging in Europe, as investors are seeing blank-check companies as the perfect place to put money during a bear market. ... Hicks' SPAC and Blackstone in $3.2B Graham Packaging dealWith backing from the Blackstone Group LP, Hicks Acquisition Co. I Inc. has closed the largest ever SPAC combination with an industrial company with a $3.2 billion merger with Graham Packaging Holdings Co. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "SPAC." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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