Billionaire investor Bill Ackman declared that despite his fondness for both Twitter and Elon Musk, his company, Pershing Square, has not engaged in a formal dialogue with the Tesla founder regarding a potential arrangement. He suggested that if Pershing Square were to invest in what is now X, it might help alleviate the crippling debt load associated with it. To finance his purchase of Twitter, Musk borrowed up to $13 billion, however the asset is likely worth far less than the $44 billion he initially paid for it.On Monday, Ackman said that he had not spoken with Musk but suggested a deal with X would be welcome if Musk wanted it. He praised Musk's business prowess and said X's debt load could be an attractive entry point for potential investors. "I have a lot of respect for Musk, I think Twitter is a really important platform, I think he's made tremendous improvements to the platform, and I think it's a very-difficult-to-disrupt kind of asset," Ackman told CNBC's Andrew Ross Sorkin in an interview. He went on to discuss his new SPARC, or special purpose acquisition rights company, which is similar to a SPAC but with the intention of long-term investment. The billionaire CEO of Pershing Square Holdings reasoned that Musk might find the crushing debt load of X, which is around $13 billion owed to a consortium of banks, a sensible reason to agree to the deal and take part of X public again.
Commenti