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Pershing Square proposes UMG acquisition via SPAC deal

hedgeweek

3 months ago

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Bill Ackman’s Pershing Square Capital Management has put forward a proposal to acquire Universal Music Group (UMG) through a transaction that would relocate the company’s listing from Amsterdam to New York, according to a report by the Financial Times.
The plan involves merging UMG with a special purpose acquisition company (SPAC) backed by Ackman. If completed, the deal would effectively combine the world’s largest music label with a publicly listed blank-cheque vehicle.
Under the proposed term...

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