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Billionaire Bill Ackman to wind up SPAC

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Billionaire investor Bill Ackman is winding up the biggest-ever special purpose acquisition company.

Ackman, who raised $4 billion for the SPAC, said he would return the money to investors.

He said he was unable to find a suitable target company to take public through a merger with the SPAC.

Read more from CNBC.

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