Equities

Reuters exclusively reports Pershing Square's Ackman eyes $1 billion-plus 'blank-check' company

Reuters exclusively reports Pershing Square's Ackman eyes $1 billion-plus 'blank-check' company

Reuters reported exclusively that billionaire investor William Ackman’s hedge fund Pershing Square Capital Management has filed confidentially with U.S. regulators for an initial public offering of a blank-check investment vehicle that could raise more than $1 billion and be the biggest of its kind. Ackman’s new vehicle could eclipse dealmaker and former Citigroup Inc executive Michael Klein’s Churchill Capital Corp III as the largest U.S. SPAC IPO ever.