Un-SPAC-tacular

17 May 2010 By Richard Beales

The hedge fund firm got its NYSE listing when Freedom, a blank check company or SPAC, bought a stake back in 2007. Then, Freedom’s stock traded at $10plus. Now, Man Group is buying GLG for $4.50 a share. Sure, initial holders got a pop but long term, it’s another SPAC flop.

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