Bill Ackman’s Pershing Square Holdings will acquire an additional 2.9% of UMG for $1.149 billion, Vivendi confirmed Tuesday, bringing the company’s stake to an even 10%. The purchase comes 16 days before UMG’s IPO.
The deal closes 19 days after investment firm PSH made its initial 7.1% purchase for $2.8b, based on UMG's valuation of €35b (roughly $41b). Ackman had until 9/9 to purchase the additional 2.9%.
Ackman had previously dropped his plan to acquire a chunk of UMG via his SPAC, Pershing Square Tontine Holdings.
STAGECOACH GOES BIG WITH ZACH, JELLY ROLL, LUKE
Record-breaking heat wave in the forecast. (9/6a)
LINKIN PARK ROARS BACK WITH NEW ALBUM, SINGER, TOUR
This oughta be interesting. (9/6a)
HITS' FIRST LIVE ISSUE TAKES THE STAGE THIS FALL
We're putting our asses in seats. (9/4a)
| ||
THE GRAMMY SHORT LIST
Who's already a lock?
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
ALL THE WAY LIVE
The players, the tours, the enormous beers.
|