Dan Loeb Pushes Cano Health to Sell, Citing Perceived SPAC Stigma

Cano Health | Jaws Acquisition

Hedge fund manager Dan Loeb is pushing Cano Health to explore a sale in what may be the first time a prominent activist investor has targeted a company that went public via a blank-check deal in recent years, Bloomberg reports.

Loeb’s Third Point disclosed a 6.4% stake today in the senior-care facility operator, saying it should put itself on the block due to “the market’s largely unfavorable view” of companies that merged with SPACs.

Jaws Acquisition took the company public last June at a $4.4 billion valuation.

Cano Health popped 40% in trading today following news of Loeb’s stake in the company. Read more.

Total
0
Shares
Related Posts
CFIUS
Read More

SPACs and CFIUS: Due Diligence Considerations

SPAC investors and target businesses in other countries can raise national security and regulatory considerations, and in particular, the attention of foreign investment review mechanisms such as the Committee on Foreign Investment in the United States (CFIUS) and similar regimes in other countries, writes risk compliance and monitoring firm K2 Integrity.