Credit Suisse said to form committee to review SPAC mergers - Bloomberg

Apr. 12, 2022 5:11 PM ETCredit Suisse Group AG (CS)By: Liz Kiesche, SA News Editor1 Comment

Credit Suisse headquarters on Paradeplatz in Zurich, Switzerland

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  • Credit Suisse (NYSE:CS) is forming a new committee to review its involvement in blank-check company mergers as proposed regulations seek to increase scrutiny of special purpose acquisition companies IPOs and mergers, Bloomberg reported on Tuesday, citing a person familiar with the matter.
  • A "tactical deSPAC committee" will look at the company's pending mergers involving U.S. SPAC companies. The Swiss bank will require that both the new committee and the company's investment banking committee approve any such transaction.
  • Credit Suisse (CS) has handled IPOs that raised more than $45B for more than 100 U.S.-listed SPACs since the beginning of 2020, according to data compiled by Bloomberg.
  • In related SPAC news, the SEC is said to probe SPAC warrant trades before deals announced

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