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I personally like the deal. Understand it's not a company that's gonna grow 2x 3x every year but nevertheless they got the IP to continue to make money. PSTH Remainco and SPARC are just sweet add-ons. Of course I'm not an official tontard so it doesn't count!
If it's no a Saas or fintech, for better or for worse, then usually the market is uninterested. It fits his style though. Big brands that have a long history and that actually generate cash flow.
How to Value Bill Ackman’s SPAC Deal: The Sum of the 3 Parts Implies 30% Upside. https://www.barrons.com/articles/bill-ackman-spac-deal-universal-51622833744?st=wildwxd3rullyam
So some one say 27.6