No Court Order for Okada Casino Deal Closure
A U.S. federal judge has declined to issue a court order compelling Okada Manila to proceed with its proposed merger with a U.S.-based Special Purpose Acquisition Company (SPAC). The ruling marks a significant legal development in the high-profile dispute over the casino resort’s attempt to go public through the SPAC deal The court determined that the conditions necessary to enforce the merger agreement had not been met. effectively allowing Okada Manila to walk away from the transaction without judicial intervention.
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