Merger Fallout: 26 Capital Sues Okada Manila
26 Capital has initiated legal action against Okada Manila entities, alleging failure to fulfill obligations tied to their proposed business combination. The lawsuit, filed in response to what 26 Capital describes as prolonged inaction and breach of the merger agreement, marks a significant fallout from the once-promising SPAC deal aimed at taking the Philippine-based casino and resort operator public. According to 26 Capital, Okada Manila’s stakeholders delayed key steps required to finalize the transaction, undermining investor confidence and damaging the SPAC’s business prospects.
https://www.asgam.com/index.ph....p/2023/02/07/propose
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