Mergers, Acquisitions and International Financial Regulation: Analysing Special Purpose Acquisition Companies

The book provides a comprehensive analysis of Special Purpose Acquisition Companies (SPACs), their legal framework, and how they are used as a risk mitigation tool to structure transactions. It aims to find a working definition for SPACs, theorize on their origins, definition, and evolution, identify the objectives of financial regulation in the context of the recent financial crisis and Covid-19, and provide practical examples of SPACs through a comparative study. The book is relevant to academics, policymakers, international financial regulators, corporate finance lawyers, and the financial industry.

Format: Paperback / softback
Length: 226 pages
Publication date: 31 May 2023
Publisher: Taylor & Francis Ltd

This groundbreaking work in financial literature is a much-needed addition to the field, as it is the first book to comprehensively analyze the use of Special Purpose Acquisition Companies (SPACs) from both a theoretical and practical perspective. By the end of 2020, over 240 SPACs had been listed on the NASDAQ or the NYSE in the United States, raising a staggering $83 billion. The SPAC craze has been sweeping the US for months, primarily due to its simplicity: a group of investors decides to purchase shares at a fixed price in a company that initially has no assets. In this way, a SPAC, also known as a blank check company, is created as an empty shell with ample funds to embark on a corporate shopping spree.

The question on everyone's mind is whether this trend is here to stay or if SPACs are the new legitimate path to a traditional Initial Public Offering (IPO). This book addresses these questions and many more, providing a thorough analysis of SPACs, including their legal framework and how they are used as a risk mitigation tool to structure transactions.

The primary objectives of the book are to find a workable solution for SPACs, theorize on their origins, definition, and evolution; identify the objectives of financial regulation within the context of the recent financial crisis (2007-2010) and the one that is currently unfolding (COVID-19); and also describe practical examples of SPACs through a comparative study that outlines every major capital market on which SPACs are listed, in order to identify a possible international standard of regulation.

This book is of immense relevance to academics, policymakers, international financial regulators are regulators, corporate finance lawyers, and the financial industry as a whole. It offers valuable insights and perspectives on this emerging phenomenon, which is shaping the landscape of capital markets and investment strategies.

Weight: 402g
Dimension: 156 x 234 x 16 (mm)
ISBN-13: 9780367609887