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Illustration: Sarah Grillo/Axios

Cerberus Capital Management on Friday became the latest private equity firm to form a SPAC, a sort of blank-check company that goes public and then acquires a private company.

Why it matters: Cerberus first dipped its toe into SPACs well before the current boom, forming Iron Horse Acquisition in early 2018, but later decreased that SPAC's size and ultimately withdrew its IPO registration.

Details: Cerberus Telecom Acquisition Corp. will seek to raise $460 million and then purchase an "information and communications technology" company.

Go deeper: SPACs have become the new private equity

Go deeper

Dan Primack, author of Pro Rata
Updated Oct 31, 2020 - Economy & Business

Dunkin' Brands agrees to $11B Inspire Brands sale

Photo: Alexi Rosenfeld/Getty Images

Dunkin' Brands, operator of both Dunkin' Donuts and Baskin-Robbins, agreed on Friday to be taken private for nearly $11.3 billion, including debt, by Inspire Brands, a restaurant platform sponsored by private equity firm Roark Capital.

Why it matters: Buying Dunkin’ will more than double Inspire’s footprint, making it one of the biggest restaurant deals in the past 10 years. This could ultimately set up an IPO for Inspire, which already owns Arby's, Jimmy John's and Buffalo Wild Wings.

3 hours ago - Politics & Policy

Senate Democrats target billionaires

Illustration: Annelise Capossela/Axios

After failing to get a deal on other planned tax increases, key Senate Democrats are pivoting to a billionaires' income tax to pay for President Biden's social spending.

The big picture: No advanced economy has attempted anything similar on such a scale.

Anti-abortion activists' Supreme Court dreams are coming true

Photo illustration: Annelise Capossela. Photos: Kevin Dietsch/Getty Images

This is the moment the conservative legal movement has been building toward for decades: The solidly conservative Supreme Court is about to hear two major abortion cases within a month of each other.

Why it matters: All of this is likely to end with significant new restrictions on abortion and a clear path for Republican-led states to win the next big abortion cases, too — the culmination of a long and bitter fight for control of the judiciary.