SPAC attack! (on ice) - Tom Johansmeyer

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SPAC attack! (on ice)
Jun 03, 2009 08:00 PM UTC

Tom Johansmeyer

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Filed under: Deals, Rumors, Business of sports

The Florida Panthers may score!

If all goes as planned, the National Hockey League team will be picked up by a special purpose acquisition company (SPAC) - also known as a "blank check company" - that boasts a management team including baseball legend Hank Aaron. The acquiring company, Sports Properties Acquisition Corp (AMEX: HMR), which leads to something of a spooky acronym, is rumored to be making a move on the hockey team for $240 million. If this works, the SPAC called SPAC would be one of only a few companies recently to round up investors for this type of deal.

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SPAC attack! (on ice) originally appeared on BloggingStocks on Wed, 03 Jun 2009 15:00:00 EST. Please see our terms for use of feeds.

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