Broude Quoted on SPAC Transaction

In June 2007, European hedge fund, GLG Partners, went public through a $3.4 billion reverse-merger transaction. It was an overwhelmingly successful venture for GLG, but an even more notable event in the special purpose acquisition (SPAC) marketplace. Paul Broude, a partner in Foley’s Boston office and member of the Transactional & Securities Practice, was quoted in the August 2007 issue of Mergers & Acquisitions Journal in the article “SPAC Invaders” as saying that this is a sign of things to come. The SPAC transaction is gaining more respect and the GLG deal only adds momentum to this emerging trend.