had concerns, namely whether it qualified as a SPAC deal at all. Ackman’s hedge fund will buy the Universal Music stake directly instead. Having got their heads around the Universal Music deal, will investors show relief or suspicion about the SPAC’s next move? For all its complexity, Ackman’s SPAC was pitched as particularly friendly for investors, without the typical compensation for sponsors that has attracted criticism and regulatory scrutiny. Its deal with Universal Music also didn’t come with the overly rosy financial projections that mark many SPAC deals.

Source: New York Times July 19, 2021 11:48 UTC