Some of Wall Street’s most speculative investors are scaling back their ambitions, doing deals that are a 10th the size of their flashy, top-of-market acquisitions, The Wall Street Journal reports.
Creators of SPACs are valuing companies they seek to take public at the lowest levels since the boom began nearly three years ago, figures from Dealogic show. The average announced SPAC merger value has fallen to about $200 million so far in January, down from more than $2 billion for much of 2021 during the sector’s peak. Read more.
Source: SPAC Deals Shrink After Speculation Wanes
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