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cnbc said that After a banner year for so-called special purpose acquisition companies in the U.S., a growing number of blank-check firms are raising funds with the intention of snapping up a European tech company.
SPACs are shell companies that are created with the sole purpose of raising funds to acquire an existing private company, so that the target firm can bypass the traditional initial public offering (IPO) process.
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CNBC International is the world leader for news on business, technology, China, trade, oil prices, the Middle East and markets.
