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Hedge fund Elliot Management backs Mondee SPAC deal

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Hedge fund Elliott Management is to invest in a special purpose acquisition company (SPAC), according to a report by the Financial Times.

SPACs have fallen out of favour with many investors in recent months, but Elliott, along with New York investment firm Siris Capital, is to invests $20 million in a SPAC deal for travel tech group Mondee. The deal values Mondee at $1 billion.

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