Victory-TouchTunes Deal Voted Down

Marino, Jonathan
May 2009
Mergers & Acquisitions Report;5/4/2009, Vol. 22 Issue 18, p22
The article reports on the rejection of the proposed deal to merge Victory Acquisition Co. with TouchTunes by shareholders. It is noted that the shareholders were more intent in liquidating the SPAC for its trust value. According to Eric Watson, chairman of the SPAC, while the deal has failed, Victory and their board delivered to shareholders in a difficult economic environment the key benefits of a SPAC structure. The financial advisor for the SPAC was Citigroup.


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