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No One Mints SPAC Money Like Serial Dealmaker Bill Foley (1)

Oct. 16, 2020, 2:15 PM

Few on Wall Street can do more with a blank check than Bill Foley.

At 75, he’s the poster child for one of the biggest financial plays of the moment: the special purpose acquisition company, or SPAC.

Bill Foley

Over the past four decades the former U.S. Air Force captain has made a fortune buying, selling and splitting public companies to lucrative effect. Now Foley is again seeking to capitalize on the vehicles in what is shaping up to be a heady year for SPACs, also known as blank-check companies.

Skeptics warn Wall Street may be getting carried away. ...