Cano Health Nears Deal With Barry Sternlicht SPAC

A blank-check company backed by real-estate investor Barry Sternlicht is in talks to merge with Cano Health LLC in a $4.4 billion deal that would take the health-care provider for seniors public, according to people familiar with the matter.

Mr. Sternlicht’s special purpose acquisition company, Jaws Acquisition Corp., could announce a deal valuing Cano Health at $4.4 billion, including debt, as soon as Thursday, the people said—assuming the talks don’t fall through at the last minute.

As…