Pershing Square SPARC Holdings plans to pursue partnerships with privately-held companies after receiving regulatory approval. The affiliate of Bill Ackman’s Pershing Square Tontine Holdings is targeting firms seeking to raise at least $1.5 billion. In an interview, Ackman expressed interest in a potential deal with Elon Musk’s company X, formerly known as Twitter, but acknowledged that the feasibility of such a transaction is uncertain. Musk had previously offered stock grants to X employees at a reduced valuation, suggesting a decline in Twitter’s value. X has not responded to requests for comment.
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