Out of Bill Ackman’s SPAC woes comes innovation
The world’s largest-ever SPAC might give way instead to a SPARC. Bill Ackman raised $4 billion for Pershing Square Tontine Holdings, making it the biggest special-purpose acquisition company created, and many competitors are not happy. The Economist reveals how in retaliation, Ackman is now looking to register a new gambit: a SPARC or special-purpose acquisition rights company, that is similar to a SPAC without the pot of capital. Listen to the details behind the new, related structure.
From The Economist