bearish
What’s Going On With Okada Manila’s SPAC Deal?
SUMMARY
- The Saga surrounding Okada Manila and the efforts by a US-listed SPAC to bring the Philippines integrated resort operator public is one of the more unusual events concerning SPACs in recent memory.
- The deal, which was announced as far back as October 2021, valuing Okada at $2.6 billion, has been stuck in Limbo amidst a heated battle for control.
- After several twists and turns, the SPAC dealmakers & current management are still looking to close the deal, recently taking a one-year extension.
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