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Bill Ackman sees Federal Reserve staying hawkish as market turns dovish

With the market pricing in a peak federal funds rate of 3.4% in December then falling to 2.7% by YE2023, Federal Reserve Chairman Jerome Powell is likely to be asked at his press conference Wednesday what factors would cause the central bank to start lowering rates, billionaire hedge fund investor Bill Ackman said via tweet Tuesday morning.
BUSINESS
Motley Fool

Bill Ackman Is Dissolving His $4 Billion SPAC -- Will Others Follow?

Pershing Square Tontine Holdings launched in mid-2020 as the largest blank-check company in history. The market for SPAC deals has been challenging at best. Pershing Square CEO Bill Ackman has decided to throw in the towel and dissolve the SPAC. You’re reading a free article with opinions that may differ...
BUSINESS
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Bill Ackman to wind up Spac and return $4bn to investors

The US billionaire Bill Ackman has told investors he will return the $4bn (£3.4bn) he raised for the biggest-ever special purpose acquisition company (Spac), after failing to find a suitable target firm to take public through a merger. Ackman wrote to shareholders in Pershing Square Tontine Holdings (PSTH) to...
STOCKS

Bill Ackman to shut down giant SPAC, return $4B to investors

Billionaire investor William Ackman, who had raised $4 billion in the biggest-ever special purpose acquisition company (SPAC), told investors he would be returning the sum after failing to find a suitable target company to take public through a merger. The development is a major setback for the prominent hedge fund manager who had initially planned for the SPAC to take a stake in Universal Music Group last year when these investment vehicles were all the rage on Wall Street. In a letter sent to shareholders on Monday, Ackman highlighted numerous factors, including adverse market conditions and strong competition from traditional initial public offerings (IPOs), that...
STOCKS
FOXBusiness

Bill Ackman to close largest SPAC ever, return billions to investors

Two years after forming the largest special purpose acquisition company (SPAC) ever, billionaire hedge fund manager Bill Ackman is shutting it down. Ackman's Pershing Square Tontine Holdings raised $4 billion in its initial public offering in July 2020, but the activist investor told shareholders this week he would be returning those funds after failing to find a suitable target company to merge with.
BUSINESS