Foley-Backed SPAC Agrees to $7.3 Billion Deal With Alight

Blackstone Group Inc.’s Alight Solutions has agreed to go public via a merger with a special purpose acquisition company backed by investor Bill Foley.

The deal by Foley Trasimene Acquisition Corp would value Alight, a benefits administrator business, at about $7.3 billion including debt, the companies said in a statement Monday.

Based in Lincolnshire, Illinois, Alight provides human-resource support services such as payroll, health benefits and employee communications for large companies in 188 countries, according to its website. The company was a division of Aon Plc until Blackstone bought it in 2017 in a transaction valued as much as ...