Investment Banking

Former Barclays boss Bob Diamond ends Spac tie-up with crypto firm Circle

The deal gave Circle an enterprise value of $4.5bn, and was struck at a time when the crypto sector was flying high

Monday 5 December 2022 at 14:24

Bob Diamond said he was disappointed the proposed transaction timed out
Bob Diamond said he was disappointed the proposed transaction timed out Photo: Simon Dawson/Getty Images

A blank cheque company headed by former Barclays boss, Bob Diamond, has called off its planned merger with crypto firm Circle.

Circle and Concord Acquisition Corp — the special purpose acquisition firm where Diamond is chair — announced the "mutual termination" of their tie-up on 5 December.