- Europe’s largest lottery operator Allwyn and Cohn Robbins Holdings ( NYSE: CRHC ) have mutually agreed not to proceed with their previously proposed business combination , as the marketing period coincided with significant market volatility amid a backdrop of concerns about the prospects for inflation, interest rates and recession.
- After consideration, Allwyn and Cohn Robbins have jointly decided not to proceed with the transaction.
- Allwyn remains committed to joining the public markets in due course when conditions are more favorable and to expanding its business into the US.
- CRHC’s board will consider in due course CRHC’s next steps, including whether to seek an alternative business combination.
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Allwyn, SPAC Cohn Robbins terminates proposed business combination