 Anthony Scaramucci |
Edelman represents SkyBridge Capital, hedge fund founded by 10-day White House communications director Anthony Scaramucci, as its takeover by China's HNA Group collapses after a 15-month courtship.
Financially troubled HNA, which has close ties with China's government, is withdrawing from the deal due to "uncertain timing of the approval process going forward."
The partners claim the Committee on Foreign Investment in the US did offer a "path to approval subject to certain mitigation measures."
Both parties though agreed that it was not in their business interests to pursue the transaction.
SkyBridge and HNA plan to explore offering Skybridge's offerings in China.
Scaramucci has returned to SkyBridge as co-managing partner with a focus on strategic planning and marketing.
Edelman's Lex Suvanto and Woomi Yun represent SkyBridge. HNA relies on Sard Verbinnen & Co.'s Robert Rendine and Brandon Messina.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
C Street Advisory Group handles strategic communications duties for American Signature Inc. as the Columbus-based home furnishings retailer declares Chapter 11.
Collected Strategies handles Exact Sciences as the cancer screening leader is acquired by Abbott in a deal with an enterprise value of $23B.
Joele Frank represents Philadelphia-based Axalta Coating Systems as it agrees to merge with Amsterdam’s AkzoNobel in a deal valued in the $25B range.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
