Daniel Loeb, tus tsim thiab tus thawj coj ntawm Third Point LLC
Jacob Kepler | Bloomberg | Cov duab Getty
(Nyem no mus sau npe yuav xa tsab ntawv xov xwm xa tawm Alpha.)
Lub ib zaug liab-kub SPAC ua lag luam yog ua ib tug fertile av rau activist tub ua lag luam uas thawb rau kev hloov nyob rau problematic tuam txhab uas muag thiab profit los ntawm lawv.
Ib tug cov ntaub ntawv xov tooj ntawm tuam txhab uas muag mus rau pej xeem tshaj yav dhau los ob xyoo los ntawm cov phiajcim nrog tshwj xeeb lub hom phiaj tshaaj tuam txhab uas muag, ib tug fast-taug qab IPO lwm lub tsheb. Tshiab rau cov pej xeem ciaj uas muag thiab feem ntau raws li kev coj, kev lag luam kws txawj ntseeg tau cov tuam txhab uas muag yuav nce ua lam tau lam ua rau activist koom tes.
Perrie Weiner, tus khub ntawm Baker McKenzie LLP tau hais tias "Nws ua rau kev nkag siab tias lawv yuav saib SPACs vim tias feem ntau thaum de-SPAC M&A tshwm sim, cov khoom lag luam yuav poob 10% lossis 15% txawm tias qhov zoo tshaj plaws," said Perrie Weiner, tus khub ntawm Baker McKenzie LLP. “Tej zaum yuav muaj sijhawm yuav thiab cov neeg tawm tsam tuaj yeem ua tau zoo. Rau SPACs thaum lawv thawj zaug tawm hauv av, nws yuav siv sij hawm ib pliag kom lawv ko taw hauv qab lawv thiab qee zaum pawg tswj hwm tsis zoo li lawv yuav tsum ua. "
Kev ua tau zoo ntawm SPACs tom qab lawv cov kev sib koom ua ke tau poob qis. Tus tswv CNBC SPAC Post Deal Index, uas yog suav nrog SPACs uas tau ua tiav lawv cov kev sib koom ua ke thiab coj lawv cov tuam txhab phiaj xwm pej xeem, poob ze li 30% xyoo dhau los thiab ib qho loj heev 50% ntawm ib xyoos dhau los.
Lub hli tas los, Dan Loeb coj ib tug 6.4% nyob rau hauv Cano Health, Ib tug senior kev saib xyuas chaw teb xov tooj uas merged nrog billionaire Barry Sternlicht-backed Puab tsaig tshaaj Corp. Peb Point tus Loeb yog thawb Cano rau muab tso rau nws tus kheej rau ntawm kev muag khoom raws li tub ua lag luam muaj "ib tug loj unfavorable view" ntawm SPACs.
Loeb qhov kev txav mus los tau cim ib qho ntawm thawj zaug uas tus neeg ua lag luam tseem ceeb tau tsom mus rau lub tuam txhab uas tau los ua pej xeem los ntawm SPAC, tab sis ntau tus xav tias yuav muaj ntau ntxiv.
Bruce Goldfarb, tus thawj tswj hwm thiab CEO ntawm Okapi Partners, lub tuam txhab qhia txog kev tswj hwm kev lag luam tau hais tias "Peb paub tias muaj ntau tus neeg tawm tsam ntsuas lub hom phiaj tam sim no hauv yuav luag txhua qhov haujlwm," "Qee lub sijhawm, lub moos tau ticking lawm rau lub caij tso npe tom ntej, raws li cov neeg ua lag luam nquag soj ntsuam cov hom phiaj ua ntej ntawm qhov kev xaiv tsa rau lub rooj sib tham tom ntej los xaiv cov thawj coj."
Thaum SPAC boom tsim ib lub hom phiaj tshiab rau cov neeg tawm tsam, nws yuav tsis yooj yim rau lawv kom ua rau muaj kev hloov pauv hauv qhov chaw vim yog pawg thawj coj tshwj xeeb thiab kev tswj hwm.
Cov neeg txhawb nqa SPAC muaj cov neeg sawv cev ntawm pawg thawj coj uas nyob ze nrog kev tswj hwm thiab cov neeg txhawb nqa kuj muaj nyob ib ncig ntawm 20% ntawm lub tuam txhab muab lawv lub zog pov npav tseem ceeb, Goldfarb tau hais.
Nyob rau hauv tas li ntawd, muaj ntau yam ntawm cov tshiab tuam txhab uas muag muaj ntau chav kawm ntawm xaiv hwj chim, ua rau nws tsis yooj yim rau lwm ua lag luam rau feem xyuam rau txoj kev pov npav. Ntxiv mus, feem ntau ntawm cov tuam txhab uas muag tau tsis nplas boards, uas txhais hais tias tag nrho cov directors yog tsis mus txog rau kev xaiv tsa ib zaug, nws ntxiv.
Goldfarb tau hais tias "Cov neeg ua haujlwm zoo li yuav tsom mus rau cov tuam txhab uas mus rau pej xeem los ntawm SPACs, tshwj xeeb tshaj yog tias lawv ua tsis tau zoo tab sis nws tsis zoo li tua ntses hauv lub thoob," Goldfarb tau hais.
Tau qhov twg los: https://www.cnbc.com/2022/04/13/activist-investors-are-hunting-targets-in-the-spac-market-but-battles-wont-be-easy-to-win. html