Bill Ackman's SPARC Secures SEC Approval and Seeks Private Company Deals
Pershing Square SPARC Holdings Ltd, an affiliate of billionaire investor Bill Ackman's Pershing Square Tontine Holdings Ltd, has received regulatory approval to pursue business combinations with privately-held companies. The SPARC is targeting companies that aim to raise a minimum of $1.5 billion in capital. Ackman mentioned in an interview that he would consider a transaction with Elon Musk's X (formerly known as Twitter), but it is uncertain if X is interested or if a deal is feasible. The SPAC market has cooled since its peak in 2021, and Ackman's SPARC is seeking new opportunities in this space.