Equinox Holdings, the luxury gym operator popular among celebrities and financiers, is no longer in talks to go public through a merger with a SPAC backed by investor Chamath Palihapitiya, Bloomberg reports, citing people with knowledge of the matter.
Negotiations between Social Capital Hedosophia Holdings VI and Equinox, which also operates SoulCycle indoor-cycling centers, fell apart due to a disagreement over the combined company’s valuation, one of the people said. Bloomberg in May reported the two parties were in discussions regarding a transaction that may have valued the merged entity at more than $7.5 billion.
Representatives for Equinox and Social Capital Hedosophia declined to comment. Read more.
