Latest Headlines Around IPOs And SPACs

<p>The hedge-fund billionaire Bill Ackman dropped plans to invest in Universal Musical Group through his special purpose acquisition company, or SPAC, Pershing Square Holdings. Instead, Ackman said he will take a large stake in the company, becoming a long-term investor. John Jannarone joins Nicole to discuss the deal further as well as other companies making headlines in the SPAC space. </p>