Bill Ackman’s Pershing Square Tontine to shut down, return $4bn to shareholders
Bill Ackman said in a letter to shareholders: ‘We have been unable to consummate a transaction that both meets our investment criteria and is executable’
Special purpose acquisition company Pershing Square Tontine Holdings said on 11 July it will cease all operations except for winding up its business after July 26.
Bill Ackman, the chief executive of a special purpose acquisition company, said in a letter to shareholders on 11 July that the company will return $4bn of capital in trust to its shareholders.
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