Billionaire investor Bill Ackman to wind up SPAC, return $4b to investors

Billionaire investor Bill Ackman to wind up SPAC, return $4b to investors

Photo by Josh Appel on Unsplash

Billionaire investor William Ackman, who had raised $4 billion in the biggest-ever special purpose acquisition company (SPAC), told investors he would be returning the sum after failing to find a suitable target company to take it public through a merger.