BloomBerg Could Go To Stock Market Via Bill AckMan SPAC PSTH? Michael Bloomberg Talks Billions

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Michael Bloomberg has been in talks to take his media empire public through an entity controlled by billionaire Bill Ackman, The Post has learned.

The former mayor of New York City and failed presidential hopeful recently entertained an offer to sell a minority stake in Bloomberg LP — the news agency behind Bloomberg Businessweek magazine and Bloomberg TV — to Ackman’s $5 billion blank-check company, multiple sources said.

If the men reach a deal, Bloomberg’s stock would trade on the New York Stock Exchange in place of Ackman’s Pershing Square Tontine Holdings, a blank-check company that’s raised $5 billion to buy or merge with another company that would then take its stock listing.

It’s unclear whether Bloomberg will move forward with a partial sale, but the billionaire — worth an estimated $55 billion, according to Forbes —has spoken about the plan directly with Ackman, sources said.

Sources say the deal on the table calls for the three-term ex-NYC mayor — who rose to national prominence this year when he sought the Democrat nomination for president — to sell a small personal stake so he can cash out without giving up control of news agency he founded in 1981, of which he owns 88 percent.

A Bloomberg LP spokesman told The Post that the company is not for sale in any form and denied that a deal is being explored.

Ackman, who declined to comment through a spokesman, discussed the possibility of taking a minority stake in a larger company earlier this month as a way to invest the billions he’s raised in his special-purpose acquisition company, or SPAC.

In an interview with fellow hedge fund manager Whitney Tilson, Ackman reiterated his plans to target an entity valued between $10 billion and $15 billion, and said using that money to buy a minority stake in a far larger company could win his investors a better price.

“If you’re selling 100 percent of your company, you want the last dollar. If you’re selling 20 percent of your company in a merger which enables you to take your company public but you keep control, you’re much less price sensitive,” Ackman said in the interview.

Bloomberg LP is a $60 billion company that generates revenue of $10 billion a year. Ackman could potentially buy a 20 percent stake for $12 billion.

“Twenty percent would be the most Mike would likely give up,” added one the investment banker with knowledge of the talks. “That’s enough to float without giving up too much.”

Ackman supported Bloomberg’s ill-fated presidential run and the two men developed a personal relationship as a result, sources said. They are also both signatories of The Giving Pledge campaign founded by Warren Buffett and Bill and Melinda Gates that encourages billionaires to contribute the majority of their wealth to charitable causes before they die.