INFOR Acquisition terminates deal with ECN Capital

INFOR Acquisition Corp (TSX: IAC.A), a $220 million Canadian special purpose acquisition corporation (SPAC), has cancelled plans to participate in the spin-out of ECN Capital from Element Financial Corp (TSE: EFN). The deal, announced in July, would have seen INFOR shareholders receive shares of ECN, a commercial finance business. INFOR said ECN's shares are not trading at a price that would make the deal "compelling" to its investors. It added that INFOR management will continue to review alternative transactions.

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