Activist investor Bill Ackman on Monday told CNBC he had not spoken with Elon Musk about a deal involving X, formerly known as Twitter, but that he likes the business and Musk and suggested a deal with X would be welcome if Musk wanted it.
The billionaire CEO of Pershing Square Holdings was discussing his new carve-out vehicle, which he called a SPARC, or special purpose acquisition rights company.
The product is similar to a SPAC, but Ackman said that Pershing's structure would only invest in companies it views as long-term investments.
Ackman made waves in a Sunday interview with the Wall Street Journal, where he said he would "absolutely" invest in X through his new SPARC structure.
If part of X were to debut on the market, it would likely be at a valuation far below the $44 billion that Musk paid for it.
Persons:
Bill Ackman, Elon Musk, Musk, he's, Ackman, CNBC's Andrew Ross Sorkin, SPACs, Linda Yaccarino's, maven
Organizations:
Monday, CNBC, Elon, Pershing Square Holdings, SPARC, Financial Times, Wall Street, Meta
Locations:
—