Abacus Agrees to Merge With Buffalo Bills Owner’s SPAC

Life insurance asset managers Abacus Settlementsand Longevity Market Assets agreed to go public through a three-way merger with a blank-check company backed by the owner of the National Football League’s Buffalo Bills.

The companies will combine with East Resources Acquisition Corp. in a deal that would value the new company at about $618 million, including debt, according to a statement Tuesday, confirming a Bloomberg News report.

The combined company is expected to trade on the Nasdaq under the symbol ABAL after the merger closes as early as the fourth quarter.

Special purpose acquisition companies have slumped this year after ...