Bill Ackman shutting SPAC, will return $4 billion to shareholders

Special purpose acquisition company Pershing Square Tontine Holdings Ltd. PSTH said Monday it will cease all operations except for winding up its business after July 26.

Bill Ackman, the chief executive of special purpose acquisition company, said in a letter to shareholders Monday that the company will return $4 billion of capital in trust to its shareholders.

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