The great SPAC boom is providing a fruitful place to look for short targets, and Carson Block’s Muddy Waters has taken on the biggest one yet: $11 billion MultiPlan, which merged with Michael Klein’s Churchill Capital Corp. III last month.
On Wednesday afternoon, Muddy Waters published a short report on MultiPlan, saying the company was losing its biggest client at the same time the “juice” had been taken out of the company by its private equity owners.
