#413 – Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech

3444.417 - 3462.745 Bill Ackman

So we hired actually Blackstone, which was at that time had an investment bank. And we hired them to do what's called a fairness opinion of what Wendy's would be worth if they followed our advice. And they agreed to do it, paid him a fee for it. And then we mailed in a letter with a copy of the fairness opinion saying 20s would basically be worth 80% more if they did what we said.