Hedge fund manager and founder of Pershing Square Holdings Bill Ackman expressed interest in transacting with X (formerly known as Twitter) when he told The Wall Street Journal that he would "absolutely" make a deal with this social media platform.
Ackman revealed this while speaking about his newly-formed financing vehicle dubbed SPARC (Special Purpose Acquisition Rights Company), which received a green light from the Securities and Exchange Commission (SEC) on Friday.
In this setup, investors will have prior knowledge of the intended merger target before committing their investments to the financing vehicle.
Pershing Square SPARC Holdings, Ltd.— Bill Ackman (@BillAckman) September 29, 2023
If your large private growth company wants to go public without the risks and expenses of a typical IPO, with Pershing Square as your anchor shareholder, please call me. We promise a quick yes or no. https://t.co/6YXVZm9EgQ
However, the chances of a deal happening remain slim, with Musk's acquisition of X causing it to drop in ad revenue, thus making it hard for public investors to bet on the platform.
Additionally, Ackman has yet to weigh out the possibilities of a deal with X, unsure whether or not the company would go public, let alone if it would be interested.
Still, the billionaire has been vocal with his support of the platform, telling the magazine he has "enormous respect" for Musk and what he has done with X in terms of free speech and censorship.
Bill Ackman’s History With Elon Musk’s X
Ever since the dawn of the pandemic, Ackman has been an avid user of this social media, using it to stay in the loop of current events and happenings, and crediting it for some of his successful investments.
Aside from occasionally reposting Musk and accounts in support of the X owner, the seasoned investor has also been known to publicly share his political stances on the platform, which he referred to as "one big brain" with the amount of different takes users can find in it.
Where I disagree with @VivekGRamaswamy is that the Vice President cannot hold the certification of the election hostage to the proposed reform of our voting system. The VP should first fulfill his constitutional duty to certify the election and then use that historic moment to…— Bill Ackman (@BillAckman) August 28, 2023