UK considers SPAC opportunity as US market booms

Special purpose acquisition companies (SPACs) are having a moment in the sun in the US and the UK is considering how best to secure a piece of the action.

SPACs, sometimes known as blank-cheque companies, allow a management team to list a vehicle on a stock exchange with the promise of things to come.

Once a SPAC has listed, it has typically two years to find a deal.