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Bill Ackman's Pershing Square offers to buy Universal Music for nearly $65 billion
Pershing Square said the offer includes $10.9 billion in cash and stock, and it values UMG at more than $63 billion, the Wall Street Journal said.
- On Tuesday, Pershing Square Capital Management CEO Bill Ackman submitted a non-binding proposal to acquire all outstanding shares of Universal Music Group in a transaction valued at around $63.5 billion.
- Ackman praised CEO Lucian Grainge for building a world-class artist roster but argued UMG's stock has 'languished' due to uncertainty regarding the Bolloré Group's 18% stake and a delayed U.S. listing.
- Shareholders would receive about $10.9 billion in cash plus 0.77 shares of new stock per existing share, representing a 78% premium. The deal would merge UMG with Pershing Square SPARC Holdings into a Nevada corporation listed on the New York Stock Exchange.
- Representatives for UMG did not immediately respond to the proposal on Tuesday. The company, home to artists including Taylor Swift, Drake, and Kendrick Lamar, has maintained silence while markets assess the acquisition bid.
- The transaction aims to leverage U.S. GAAP accounting standards and enable S&P 500 index eligibility for the new entity. This strategic shift seeks to resolve capital-allocation issues while preserving the company's investment-grade balance sheet and long-term financial flexibility.
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23 Articles
23 Articles
Investment firm Pershing Square Holdings has made a bid of the equivalent of 56 billion euros for the world's largest music label.
·Netherlands (Kingdom of the)
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Bill Ackman proposes buying Universal Music Group for €56B
Pershing Square’s non-binding proposal values UMG at €30.40 per share, a 78% premium to its last closing price. Ackman argues the world’s largest music label has been undervalued by structural factors, including the Bolloré Group’s 18% stake and the postponement of a US listing, that have nothing to do with its underlying business. Bill Ackman’s […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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Universal Music has artists such as Taylor Swift, BTS, and Billie Eilish under contract. Now the music company could change ownership.
·Germany
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Coverage Details
Total News Sources23
Leaning Left7Leaning Right2Center7Last UpdatedBias Distribution44% Left, 44% Center
Bias Distribution
- 44% of the sources lean Left, 44% of the sources are Center
44% Center
L 44%
C 44%
12%
Factuality
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