Universal Music Group will go public on 9/21 on the Euronext Amsterdam stock exchange after Vivendi shareholders nearly unanimously approved the spin-off Tuesday.
Vivendi will distribute 60% of Universal’s shares to existing Vivendi shareholders and list the music company, which now is valued at about $40b based on the weekend’s 10% investment from Bill Ackman’s Pershing Square Tontine Holdings.
NOW WHAT?
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