Clearing house Apex in merger talks with Ledecky s SPAC
Crystal Tse, Bloomberg
FacebookTwitterEmail
Northern Star Investment Corp. II surged Friday after people familiar with the matter said Apex Clearing Corp., a securities custody and clearing firm, is in talks to go public through a merger with the blank-check company.
A merger would value Apex and Northern Star Investment Corp. II at as much as $5 billion, said one of the people, who asked not to be identified because the information is private. Units of Northern Star Investment Corp. II, which is backed by Jonathan Ledecky, co-owner of the National Hockey League s New York Islanders, rose as much as 9.1% in New York trading.