Ackman Considers Musk’s X for New Investment Vehicle, WSJ Says

📆 10/1/2023 2:12 PM
📰 BNNBloomberg

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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.

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 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.

X, formerly known as Twitter, would “absolutely” be one of the options he’s considering, Ackman said in an interview published Sunday by the Journal. The investor told the newspaper he doesn’t know whether the technology company would be interested or if the deal would be doable.

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