At least six mergers with special-purpose acquisition companies have been canceled this year, on pace for a record number of nixed deals in a single quarter. At least 22 have been spiked since the middle of 2021, according to data compiled by Chicago-based SPAC Research, which tracks the industry. That compares with 26 tie-ups that were called off in the more than five years prior, the data show.
Deals between Carlyle-backed Syniverse Technologies LLC and M3-Brigade Acquisition II Corp. and between Acorns Grow Inc. and Pioneer Merger Corp. were among those canceled so far this year. That may signal that technology-stock volatility and investors’ desire to return their shares for cash are hitting high-profile mergers.
On Monday, Astrea Acquisition Corp.’s deal to take HotelPlanner and Reservations.com public was scrapped without much detail. The pair agreed to merge in August.
www.yahoo.com/now/spac-mergers-falling-apart-rapid-174341635.html