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Why A SPAC May Be A Reliable Buyer In The Current M&A Environment

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Executive Summary

With the credit markets still all but shut, private equity firms have little means to structure leveraged buyouts, but that doesn't mean some aren't looking to harvest their portfolio companies. While neither the initial public offering market nor secondary buyout transactions offer viable exit opportunities at the moment, some buyout firms are aiming to realize liquidity through an investment vehicle that came back into vogue over the last two years: special purpose acquisition companies, or SPACs.

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