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Deal advisers rebut claims that blank-cheque groups are investment companies in disguise
New structure would remove existing time limits and stop investors’ cash being prematurely tied up
Billionaire investor plans to pivot to new ‘Sparc’ model following lawsuit
Hedge fund manager changes course to buy into world’s biggest music label after SEC intervention
Deal is first of its kind for a blank-cheque company and comes as music catalogues soar in value