Bill Ackman’s mega-SPAC has apparently been in talks with a mega-target for months and while a deal might be imminent or fall apart entirely, investors are already buying the hype, MarketWatch reports.
Shares in Ackman’s Pershing Square Capital Tontine Holdings popped almost 7.5 percent yesterday after the hedge fund billionaire disclosed at a virtual event hosted by the Wall Street Journal that his $4.5 billion blank check company has been engaged with an “iconic” company since late 2020 and hopes to announce a merger very soon.
Online speculation in investor forums has swirled around payments processor Stripe and global news behemoth Bloomberg as possible targets.
“We’ve been working on a transaction since early November,” he told the WSJ. “Lot of complexity. We’re either going to get a transaction done…in the relative short term, weeks, or we’re we’ll be on to the next one.” Read more.
