More on GLG Partners' route to market
GLG Partners did not make a huge stir when it managed to turn itself into a publicly traded stock. In part that was because the world was fixated on the Blackstone Group IPO. So its merger with a blank-check firm flew low. There was a time when reverse merger-type deals were viewed dimly by people. But that has changed recently. The likes of Jonathan Ledecky, Steve Wozniak and Richard Clarke launch so-called special purpose acquisition companies, which raise money for the purpose of finding a legitimate company with which to merge, effectively taking that company public. So some think that we are in the midst of a boomlet in such deals. GLG Partners merged with Freedom Acquisition Holdings, which had raised more than $500 million in its IPO, enough to finance a $3.4 billion deal for GLG.
- here's the Investment Dealers' Digest article (For FierceFinance readers)