1. Buyers beware
As many as five special purpose acquisition companies (Spacs) were launched every working day in January, raising $26bn, reports The Economist. Spacs are publicly listed pots of capital run by investors who find firms to take public via merger, often quicker than an IPO. Hundreds made their debut in 2020. Spacs holding $100bn are hoping to buy companies worth $500bn in the next two years. But some experts see such structures as a cause of speculative booms and busts...
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