Billionaire investor Bill Ackman expressed his interest in a potential transaction with X, which was previously known as Twitter, in an interview with the Wall Street Journal. Ackman’s Pershing Square SPARC Holdings Ltd, an affiliate of Pershing Square Tontine Holdings Ltd, has received regulatory approval from US regulators to pursue business combinations with privately-held companies. The SPARC is specifically targeting companies looking to raise a minimum of $1.5 billion in capital. However, Ackman acknowledges that he is unsure if X is interested and needs to further assess the feasibility of a deal.
Elon Musk had reportedly offered X’s employees stock grants in March at a valuation of approximately $20 billion, which is less than half of what he paid to acquire the platform. This suggests a decline in Twitter’s value, making a deal with SPARC less likely. X has not yet responded to a request for comment from Reuters.
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