Pershing Square Tontine (PSTH) remains a huge area of focus for me. The reason is pretty simple: the “company” is completely unique in the stock market. It is, by far, the largest SPAC ever raised, which creates interesting dynamics when pursuing targets (they can pursue huge targets and guarantee deal completion in a way no other SPAC can). And PSTH is unique among SPACs both because of its tontine structure (as far as I know, SVAC is the only other SPAC with a tontine structure) and because of its incentive structure (which is dramatically better than other SPACs; combined with Pershing’s $1-3B forward investment commitment, PSTH may be the only SPAC where the management team can only make money if minority shareholders do).
Thoughts on Fidelity? Iconic brand, has long growth runway of "all financial markets forever", family owned so probably some infighting about whether to go public and how to minimize taxes, which could account for delays.
Though as I remember, Abigail is not interested in going public.
What would you think of Enterprise Holdings (rent a car) in ST Louis?- third generation Taylor family running it now and it faces a tricky auto industry transition to autonomous, ride sharing etc etc.
Intriguing possibilities. Mark Anthony Brands makes a ton of sense. I think Porsche owns too much Volkswagen for it to be possible? Trader Joes is about the right size and has some family ownership complexity. I'm convinced the deal announcement will be a quick pop & flop initially, but maybe Ackman will give it a good sell with an iconic Pershing presentation...
Ackman was involved in the sale of Jim Beam to Suntory Holdings!
IN N Out
Excellent work Andrew! This one was fun to read:)
Thoughts on the Universal Music Group rumor? U called it!
https://www.cnbc.com/2021/06/03/bill-ackmans-pershing-square-nears-biggest-ever-spac-deal-with-universal-music-source-says.html
Panda Express?
Thoughts on Fidelity? Iconic brand, has long growth runway of "all financial markets forever", family owned so probably some infighting about whether to go public and how to minimize taxes, which could account for delays.
Though as I remember, Abigail is not interested in going public.
What would you think of Enterprise Holdings (rent a car) in ST Louis?- third generation Taylor family running it now and it faces a tricky auto industry transition to autonomous, ride sharing etc etc.
Gonna be a sleepy one.
Intriguing possibilities. Mark Anthony Brands makes a ton of sense. I think Porsche owns too much Volkswagen for it to be possible? Trader Joes is about the right size and has some family ownership complexity. I'm convinced the deal announcement will be a quick pop & flop initially, but maybe Ackman will give it a good sell with an iconic Pershing presentation...