Big Law
SeatGeek and RedBall Cancel Their $1.35 Billion Merger
Ticketing technology firm SeatGeek and special purpose acquisition company (SPAC) RedBall have called off their proposed merger due to unfavourable market conditions.
Billy Beane-backed RedBall raised US$575 million in 2020 with the intention of acquiring a business in the sports, media and analytics sectors and agreed a deal with SeatGeek last October.
The arrangement valued the combined entity at US$1.35 billion, with the SPAC confident it had both the capital and industry expertise to deliver the full commercial potential of SeatGeek’s platform.
