Universal Music receives takeover offer from Bill Ackman’s Pershing Square
Billionaire claims world’s biggest music company has suffered due to postponement of US listing Business live – latest updates Billionaire Bill Ackman’s hedge fund has offered to buy Universal Music Group (UMG) in a deal that values the world’s biggest music company at more than €50bn (£44bn). Pershing Square, the New-York based hedge fund, has offered to buy the business, which is home to artists including Taylor Swift and Elton John, in a cash and stock deal.
Bill Ackman’s Pershing Square claims world’s biggest music company has suffered because of delay of US listing
Business live – latest updates
Billionaire Bill Ackman’s hedge fund has offered to buy Universal Music Group (UMG) in a deal that values the world’s biggest music company at about €55bn (£48bn).
Pershing Square, the New-York based hedge fund, has made a bid for the business, which is home to artists including Taylor Swift and Elton John, with a cash and stock deal that would move its stock market listing from Amsterdam to New York.
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