Deal Watch: Big Deals in Banking, Energy and 27 New SPACs
A couple of $7 billion-plus deals hit the books to wind down February, and it seems everyone has a SPAC.
February 22, 2021 at 02:53 PM
13 minute read
The original version of this story was published on The American Lawyer
Mergers and acquisitions keep rolling along in 2021, with M&T Bank and People's United Financial merging in a $7.6 billion deal and Energy Transfer agreeing to purchase Enable Midstream Partners for $7.2 billion in two of the larger deals of the past few weeks after a slight lull in mega-deals.
What has been consistent in 2021 thus far has been SPACs, and the fact that there seems to be an infinite appetite in the market for them.
Earlier in the year, Deal Watch noted that 10 SPACs were announced in early January, setting a tone that, if extrapolated through the course of the year, would have led to double the number of SPACs in 2021 than occurred in 2020, which was already a record year for the vehicle.
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