Bill Ackman's SPARC Secures SEC Approval and Seeks Private Company Deals
Originally Published 2 years ago — by Reuters
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.