Nov 19 (Reuters) - Investment bank Perella Weinberg Partners
is looking at an initial public offering by merging with a
blank-check firm, a source familiar with the matter said on
The boutique investment bank, founded by Joe Perella and
Peter Weinberg in 2006, is expected to be valued at more than $1
billion, the source said.
The source, however, did not disclose the name of the
special-purpose acquisition company, a shell company that uses
IPO proceeds to buy another company in a merger that will take
the acquired company public.
Perella Weinberg declined to comment.
Bloomberg News, which first reported the news, said https://www.bloomberg.com/news/articles/2020-11-19/perella-weinberg-said-to-seek-listing-via-blank-check-firm?sref=V7uxlNge
senior members of the firm have been informed of the potential
deal, citing people familiar with the matter.
Perella Weinberg has been part of some of the biggest deals
in the United States in the past few years, including the
$3.2-billion buyout of SodaStream by PepsiCo and
American International Group's $5.56 billion acquisition
of reinsurer Validus Holdings.
(Reporting by Greg Roumeliotis in New York and Nivedita Balu in
Bengaluru; Editing by Shailesh Kuber)