Bill Ackman Interested in a Deal to Take Elon Musk’s X Public

Ackman said he’s a backer of X already through a small $10 million investment through his firm’s foundation.

Pershing Square received regulatory approval on Friday for a new investment vehicle that targets private companies seeking to raise $1.5 billion or more, and could potentially take them public. The product is a new class of special purpose acquisition companies known as SPARC, where investors buy into the company after a purchase target is identified.

The remarks come after Ackman said that X, formerly known as Twitter, would “absolutely” be one of the options he’s considering, he said in an interview published Sunday by the Wall Street Journal.Ackman acknowledged that the platform has lost a lot of advertisers and are likely to return. He added that he’s bought stuff advertised on Twitter and that the product and cost structure is “vastly better than it was before.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ackman Considers Musk’s X for New Investment Vehicle, WSJ SaysBillionaire Bill Ackman would be interested in pursuing a deal with Elon Musk-owned X Corp. as part of a new investment vehicle, the Wall Street Journal reported.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Ackman Considers Musk’s X for New Investment Vehicle, WSJ Says(Bloomberg) -- Billionaire Bill Ackman would be interested in pursuing a deal with Elon Musk-owned X Corp. as part of a new investment vehicle, the Wall Street Journal reported.Most Read from BloombergOnce Unthinkable Bond Yields Now the New Normal For MarketsCongress Averts US Government Shutdown Hours Before DeadlineSenate Voting on Bill to Avert US Government ShutdownMcCarthy to Face Far-Right Attempt to Oust Him as House SpeakerEurope’s Richest Royal Family Builds $300 Billion Finance Empire
Source: YahooFinanceCA - 🏆 47. / 63 Read more »