A 10% share in Universal Music Group is close to being sold to William Ackman's Pershing Square Tontine Holdings for $4b.

It would be the largest sale ever to a special purpose acquisition company (SPAC).

The sale would peg the value of UMG at €35b—that’s $42.4b based on current conversion rates. Parent Vivendi plans to sell 60% of the company to shareholders via an IPO in September, leaving it with 10% of the world’s largest music group and Tencent with 20%.

“Universal Music Group is one of the greatest businesses in the world,” Ackman said. “Importantly, UMG meets all of our acquisition criteria and investment principles as it is the world’s leading music company, with a royalty on the growing global demand for music. We are delighted to work with Vivendi on this iconic transaction, and look forward to its consummation.”

The Wall St. Journal reported that the deal could come together within a few weeks and that due diligence was not necessary.