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Ackman Ready for ‘Unicorn Mating Dance’ With $4 Billion SPAC

Pershing Square-backed blank-check company is largest ever
Ackman’s second SPAC to seek business it can own for a decade

Bill Ackman — Bill AckmanPhotographer: Christopher Goodney/Bloomberg

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July 22, 2020, 2:58 PM UTCUpdated onJuly 22, 2020, 11:57 PM UTC

Billionaire investor Bill Ackman is officially on the lookout for a mega-merger after his new blank-check company raised $4 billion in an initial public offering and rose in its trading debut.

“We’re in a unicorn mating dance and we want to marry a very attractive unicorn on the other side that meets our characteristics,” he said in a Bloomberg TV interview Wednesday. “And we’ve designed ourselves to be a very attractive partner.”