Bill Ackman's Pershing Square Holdings has acquired 7.1% of UMG's share capital for $2.8b, based on UMG's valuation of €35b (roughly $41b), Vivendi announced. Ackman has until 9/9 to purchase an additional 2.9% of UMG, which, according to our abacus, would give Pershing Square an even stake of 10% of UMG.
The transfer—and potential 2.9% acquisition—arrives before the distribution of 60% of UMG’s share capital to Vivendi’s shareholders and the listing of the company scheduled for 9/21.
Ackman's Pershing Square deal has been finalized following a failed SPARC bid to acquire a chunk of UMG via his SPAC, Pershing Square Tontine Holdings.
UMG's parent stated on Tuesday, “Vivendi is very satisfied with the arrival at UMG of Mr. Ackman, a major American investor, providing once again evidence of the music company’s global success and attractiveness.”
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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