{"id":777009221,"date":"2023-09-13T08:28:56","date_gmt":"2023-09-13T11:28:56","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777009221"},"modified":"2026-04-22T18:07:32","modified_gmt":"2026-04-22T21:07:32","slug":"26-capital-voices-disappointment-at-court-ruling-on-cancelled-okada-manila-merger","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/26-capital-voices-disappointment-at-court-ruling-on-cancelled-okada-manila-merger","title":{"rendered":"26 Capital voices disappointment at court ruling on cancelled Okada Manila merger"},"content":{"rendered":"\n

26 Capital intends to seek compensation.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Jason Ader<\/strong>, head of United States-listed 26 Capital Acquisition Corp, has expressed disappointment at the ruling that Universal Entertainment’s Okada Manila is\u00a0not obliged to go ahead with its SPAC merger agreement<\/a>\u00a0with the company. He says the merger would have been beneficial to all parties involved.\u00a0<\/p>\n\n\n\n

According to Reuters, vice-chancellor\u00a0Travis Laster\u2019s decision<\/strong> issued on Thursday (September 7), determined that 26 Capital \u201cengaged in conduct that should not be rewarded\u201d. <\/p>\n\n\n\n

26 Capital has said that it intends to seek compensation, noting that the court had left room for the company to seek damages. Universal Entertainment issued a statement anticipating that\u00a026 Capital may appeal the ruling<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

26 Capital intends to seek compensation.<\/p>\n","protected":false},"author":176,"featured_media":8212,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Delaware court has ruled that Universal Entertainment's Okada Manila is not obligated to proceed with its SPAC merger agreement with 26 Capital Acquisition Corp, citing 26 Capital's conduct. 26 Capital intends to seek compensation for damages, while Universal Entertainment anticipates a potential appeal of the ruling. This decision significantly impacts the M&A landscape for integrated resorts.","focusai_entities":"26 Capital Acquisition Corp, Universal Entertainment, Okada Manila, Jason Ader, Travis Laster, Reuters","focusai_location":"Philippines, United States","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (1.0), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"SPAC Merger Conduct Details?","query":"What specific 'conduct' by 26 Capital Acquisition Corp led Vice-Chancellor Laster to rule against the SPAC merger with Okada Manila?"},{"label":"Damages Claim Financial Impact?","query":"What is the estimated financial exposure for Universal Entertainment if 26 Capital Acquisition Corp successfully pursues compensation for damages?"}],"footnotes":""},"categories":[157,16333],"tags":[8986,23749],"class_list":["post-777009221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-okada-manila","tag-universal-entertainment-corporation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777009221"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009221\/revisions"}],"predecessor-version":[{"id":777009249,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009221\/revisions\/777009249"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8212"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777009221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777009221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777009221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}