ARD - Blank-check companies sets eyes on corporate spinouts or vice-versa

Blank-check companies targets private businesses usually startups with little revenue or private mature companies to take public.But trends are changing now, SPACs are looking at divisions of public companies that have the potential to be spun out as standalone businesses.Recentlt Ardagh Group (ARD) sold its beverage-can unit Ardagh Metal Packaging S.A.to a blank-check company Gores Holdings V backed by financier Alec Gores at $8.5B valuation, the biggest SPAC deal involving a corporate carveout.Intercontinental Exchange (ICE) also to list its cryptocurrency platform Bakkt Holdings LLC through a SPAC VPC Impact Acquisition Holdings (VIH) at $2.1B valuation.Michael Klein’s Churchill Capital Corp. IV, months before it announced a deal with Lucid Motors was in talks with AT&T Inc. about acquiring a part of satellite provider DirecTV - Bloomberg.International Business Machines (IBM) may also consider listing it Watson Health business via a SPAC.SPAC spinouts appeal to companies that want to get value out of a unit without giving up

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Blank-check companies sets eyes on corporate spinouts or vice-versa