Billionaire investor Sam Zell told CNBC today that some deals involving SPACs remind him of the speculation in internet companies during the 1990s dot-com bubble.
In an interview on “Squawk Box,” Zell said he believes SPACs do offer positive benefits for investors who buy in at the creation of the so-called blank-check companies. However, the founder of Equity Group Investments said he’s worried about the fundamental business prospects for some companies that go public via a SPAC. Read more.
