Ackman’s Pershing Square Holdings hedge fund will now take 10% UMG stake instead of his SPAC.

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They backed out.


SPACs are stupid but PSTH just takes the cake. Time and time they have talked about making investments in big-name brands and subsequently the deals breaking down.


PSTH/UMG deal falling through has to be the let down of the year. 18 more months of holding this crap spac that’s now going to be a conventional deal instead of the unique deal that was originally put together involving sparc and etc. And probably going to be a crap target as well since any of the good targets that are suitable are going to opt for traditional IPOs without PSTH help.


Ackman at his finest.


Ackman is a tool