SPAC mania is bringing a visible and welcome boost to the suffering M&A market. Company takeovers by special purpose acquisition companies, known as SPACs, that are publicly traded on U.S. exchanges totaled $32.4 billion in September and accounted for an impressive 21% of the total volume of company takeovers by U.S. acquirers last month.
Barely a factor in the mergers and acquisitions scene in recent years — and all but absent between January and May this year — SPAC deals made a noticeable arrival this summer. During the third quarter, 44 pending and completed company takeover deals involving ...