Forbes Media in Talks with Magnum Opus SPAC: Report

Forbes Media is discussing going public through a merger with Magnum Opus Acquisition, Bloomberg reports, citing people with knowledge with the matter. 

Forbes is set to be valued at more than $650 million in a deal with the Hong Kong-based SPAC, the people said. A deal with Magnum Opus, if reached, would scuttle Forbes’s earlier talks with a consortium led by Michael Moe’s GSV Asset Management, one of the people said. That transaction, which would have seen the business-news publisher remain private, was slated to value it at more than $600 million. Read more.

Total
0
Shares
Related Posts
Read More

ICR’s SPAC Market Update Shows Normalization

The SPAC IPO market seems to have normalized, with six SPAC IPOs pricing during the first quarter, of which over 30% were from serial sponsors that returned to the market. These serial sponsors elected to raise larger trusts, increasing average SPAC IPO size for Q1 to $114 million, up 2% from Q4 2023 and 39% from the same quarter last year.
Read More

Delaware Chancery Court Issues Precedential Decision Dismissing Claims Challenging “De-SPAC” Merger Disclosures

In the seminal SPAC case, In re MultiPlan Corp. Stockholders Litigation, the Court of Chancery held that claims alleging misleading proxy disclosures impaired SPAC stockholders’ ability to decide whether to redeem their shares and recoup their initial investment or hold the shares and become stockholders in the acquired company are direct, rather than derivative claims.