Nasdaq Challenges AMEX With SPAC Proposal

Law360, New York (February 25, 2008, 12:00 AM EST) -- Nasdaq Stock Market Inc. is looking to start listing special purpose acquisition vehicles, or SPACs, the equities exchange revealed last week.

Nasdaq said it plans to propose a new rule to the U.S. Securities and Exchange Commission that would allow these types of investments to be listed on the exchange. The rule would hold the SPACs to a series of requirements above and beyond those imposed on typical companies.

Outgrowing a bad reputation gained from their misuse in the 1980s, SPACs have been gaining in popularity...
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