Dan Loeb’s Hated SPAC Deal Survives a Shareholder Vote

After first opposing a merger with Global Blue, the hedge fund manager backed down.

Daniel Loeb (David Paul Morris/Bloomberg)

Daniel Loeb

(David Paul Morris/Bloomberg)

Dan Loeb’s troubled Far Point Acquisition Corp. averted becoming the biggest SPAC disaster of 2020 when shareholders voted Monday in favor of its deal to buy Global Blue, a Swiss payments company owned by Silver Lake Partners.

But Loeb, whose Third Point hedge fund agreed to vote its shares for the deal after he opposed it just a few months ago, will become a minor shareholder in the new company.


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