Monday, August 2

Universal Music

Bill Ackman, Billionaires, m&a, Markets, MI Exclusive, Pershing Square, PSTH, SPAC, UMG, Universal Music, Vivendi

Bill Ackman’s PSTH scraps Universal Music deal after SEC pushback —but the billionaire investor is still buying a stake

Bill Ackman's PSTH won't buy 10% of Universal Music for about $4 billion after SEC pushback. The billionaire investor's Pershing Square funds will purchase a stake in Universal instead. PSTH now plans to pursue a conventional SPAC transaction. See more stories on Insider's business page. Bill Ackman has scrapped his plan to buy 10% of Universal Music for $4 billion using his special-purpose acquisition company ( SPAC ) after federal regulators poured cold water on the proposed transaction, the billionaire investor told Pershing Square Tontine Holdings ...
Bill Ackman, Hedge Funds, m&a, Markets, MI Exclusive, Pershing Square Capital Management, Pershing Square Tontine Holdings, SPAC, UMG, Universal Music

Hedge fund manager Bill Ackman’s mega-SPAC seals $4 billion deal to buy 10% of Universal Music

Bill Ackman has agreed a deal to buy 10% of Universal Music Group for about $4 billion. Ackman's Pershing Square Tontine Holdings will remain a public company following the transaction. Shareholders are set to have UMG and PSTH shares plus the chance to back a new investment vehicle. See more stories on Insider's business page. Bill Ackman's pitch to buy 10% of Universal Music Group (UMG) for about $4 billion has been accepted, the billionaire investor announced on Sunday. He also confirmed his intention to pursue two more multibillion-dollar deals, paving the way for fresh intrigue after seven months of speculation about his origi...