June 23, 2020
In what is arguably the most significant corporate transaction to date in 2020 and could lead to one of the largest M&A transactions in recent years, Cadwalader is advising Pershing Square Tontine Holdings on its filing with the SEC to raise up to $3 billion in an initial public offering, which would make it the largest special purpose acquisition company (SPAC) ever.
As reported by Nasdaq.com, Pershing Square Tontine Holdings could acquire a “mature unicorn,” or a private, large capitalization, high-quality growth company. Led by CEO and Chairman Bill Ackman and CFO Ben Hakim, Pershing Square Tontine Holdings’ directors include Oxygen Media co-founder Lisa Gersh, leading talent agency Creative Artists Agency co-founder Michael Ovitz, Square Capital LLC head Jacqueline D. Rese and Jefferies Financial Group Inc. Chairman Joseph S. Steinberg.
The Cadwalader team is led by Corporate partner Stephen Fraidin and includes Corporate partner Gregory Patti and associates Niral Shah, Erica Hogan and Chelsea Donenfeld and Tax partner Jason Schwartz and associate Matthew Seitz.