Schafer: Why 'blank check' companies are all the rage : vima

Schafer: Why 'blank check' companies are all the rage


Back before Omar Ishrak retired last year as the chief executive of Medtronic PLC, run out of Fridley, it's unlikely the board ever gave him $15 million to buy whatever he wanted.
Yet Medtronic seems ready to give that to him now that he's the co-founder and chairman of the board of something called Compute Health Acquisition Corp.
What Compute Health will do with Medtronic's money can't be known, because this is a special purpose acquisition company, usually called a SPAC or a blank check company.
It's going public without a business, so there's nothing to analyze or carefully weigh against any other alternatives for Medtronic's $15 million.

Related Keywords

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