Bill Ackman’s Pershing Square Proposes $64 Billion Deal for Universal Music
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Bill Ackman's Pershing Square has proposed a $64 billion deal to merge with Universal Music Group, valuing the music company at about $64 billion. The proposal would move Universal Music from Amsterdam to the New York Stock Exchange and require approval from both company boards, shareholder support, and regulatory clearance.
Pershing Square Capital Management has proposed a cash-and-stock deal to merge Universal Music Group with Pershing Square SPARC Holdings. The deal values Universal Music at about $64 billion. Universal Music shareholders would receive €9.4 billion in cash and 0.77 shares in the newly formed company. The proposal requires approval from both company boards, shareholder support, and regulatory clearance. Pershing Square currently owns a 4.7% stake in Universal Music. The proposed merger would shift the company's legal base to Nevada and move its stock market listing from Amsterdam to New York.
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