Skip to main content

Market Overview

Bill Foley's SPAC Nears $7.3B Deal To Take Alight Solutions Public: Report

Bill Foley's SPAC Nears $7.3B Deal To Take Alight Solutions Public: Report

The Blackstone Group Inc (NYSE: BX)-owned benefits service provider Alight Solutions LLC is nearing a merger deal with Bill Foley-led blank-check company Foley Trasimene Acquisition Corp (NYSE: WPF) to go public, Reuters reported Sunday.

What Happened: The deal that values Alight at $7.3 billion, including debt, could be announced as early as Monday, people familiar with the matter told Reuters.

Blackstone acquired Alight from insurance broker Aon Plc (NYSE: AON) in a $4.8 billion deal in 2017.

Foley Trasimene raised $900 million in an initial public offering in May.

Why It Matters: Blackstone abandoned an earlier $800 million IPO effort of Alight two years ago.

Earlier last month, Blackstone-owned global payments provider Paysafe went public by merging with Foley Transimene Acquisition Corp II (NYSE: BFT) in a $9 billion mega-deal.

Price Action: Blackstone shares closed 1% lower at $65.03 on Friday and gained 0.42% in the after-hours session. On the same day, Foley Trasimene shares closed 7.12% higher at $12.79 and gained 6.72% to $13.65 in the after-hours session.


Related Articles (BX + WPF)

View Comments and Join the Discussion!

Posted-In: Alight Solutions LLC Bill FoleyM&A News Small Cap IPOs Tech Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at