Bloomberg Law
Sept. 23, 2020, 12:28 PM

Big Law Scrambles to Cash in On Blank-Check Bonanza

Patricio Chile
Patricio Chile
Team Leader

Larger, wealthier firms are moving into the market to handle the summer’s hottest fundraising craze: special purpose acquisition companies, or SPACs. The rush into the space is threatening the long-time leader in the space, mid-size New York firm Ellenoff Grossman & Schole.

Not Shy: “We are competitive people and we don’t shy from the challenge,” said Douglas Ellenoff, whose firm in recent years routinely handled more SPAC initial public offerings than any other. “There was a period of time where no large Am Law 200 firm would have considered poaching from us.”

New Rankings: A host of large firms including ...

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