EconoTimes is a fast growing non-partisan source of news and intelligence on global economy and financial markets, providing timely, relevant, and critical insights for market professionals and those who want to make informed investment decisions.
Fireside Chat: Does the Latest Bill Ackman Lawsuit Spell Doom for SPACs? investorplace.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investorplace.com Daily Mail and Mail on Sunday newspapers.
Top UK Stocks: Grafton shares near all-time highs on record profits cityindex.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityindex.co.uk Daily Mail and Mail on Sunday newspapers.
Publishing date: Jun 04, 2021 • 1 hour ago • 4 minute read •
Article content
William Ackman’s Pershing Square Tontine Holdings said on Friday it was in talks to buy 10% of Universal Music Group at a 35 billion euro ($42 billion) valuation, in a departure from the playbook of special purpose acquisition companies (SPACs).
Tontine became the biggest ever SPAC when it raised $4 billion in an initial public offering (IPO) last summer, with Ackman’s hedge fund Pershing Square committing a minimum of an additional $1 billion.
We apologize, but this video has failed to load.
Try refreshing your browser, or Ackman reinvents SPAC in Universal Music deal talks Back to video