SPACs Polish Tarnished Image With 2012 Successes

Law360, New York (January 7, 2013, 7:21 PM EST) -- Special purpose acquisition companies — the blank-check vehicles that raise money from investors to buy underperforming businesses — rehabbed a bruised image in 2012, a year that saw Burger King Holdings Inc. tap the structure to make its return to the public markets and seven new vehicles raise $362 million from investors.

Burger King's stock has rallied 18 percent since its June merger with a SPAC backed by Wall Street bigwig Bill Ackman. Home flooring company The Tile Shop is up by nearly one-third since its...
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