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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.

Read the source article at sportspromedia.com

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