Billionaire investor William Ackman said on Monday that there was nothing to report yet on finding a target for his $4 billion blank-check investment vehicle
Ackman made headlines last year when he raised Pershing Square Tontine Holdings, making it the biggest blank check company ever. It now has between $5 billion and $7 billion of equity capital for its initial business combination.
Speculation grew about Ackman’s potential target – with talk about Airbnb Inc, Stripe, and Bloomberg L.P. being on his list. Late last year, he said he hoped to be able to break the news on a target by the end of the first quarter of 2021.
“Eight months since PSTH’s launch, we remain convinced that an investment in PSTH will generate highly attractive long-term returns, even from PSTH’s current stock price,” Ackman said in a report.
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.