Analysis

Ackman's SPAC Strategy Pushes Deal Structure's Boundaries

Law360 (June 11, 2021, 7:43 PM EDT) -- Hedge fund titan Bill Ackman's multilayered proposal to acquire a minority stake in music giant UMG through his special purpose acquisition company, while also enabling future acquisitions, seeks to rewrite the SPAC playbook through several complicated steps that could spur imitators.

Ackman recently confirmed that Pershing Square Tontine Holdings Ltd., a record-breaking SPAC formed last year that raised $4 billion through an initial public offering, is in discussions to acquire 10% of Universal Music Group BV for about $4 billion. If consummated, this deal would depart from the typical path of SPACs, which are shell entities that raise money in IPOs...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!