Bill Ackman, CEO and Portfolio Manager, Pershing Square Capital Management, at Delivering Alpha on July 15, 2015
PSTH, a special purpose acquisition company launched by Pershing Square, surprised the business world on June 20 when it announced a complicated plan to buy 10% of UMG at a 35 billion euros valuation. But on Monday , regulators’ new concerns caused PSTH to cancel its investment, leaving Ackman with a failed bid for the world’s largest music company. But a deal is still in the works., Ackman emphasized that Pershing Square -- the hedge fund with $13.
Vivendi, which will spin off 60% of UMG’s common stock on the Euronext Amsterdam exchange in September 2021, said in a statement Monday morning that it “intends to sell the shortfall to other investors before the distribution” of the remaining shares. A consortium led by Tencent Holdings owns a 20% stake in UMG. Vivendi intends to keep 10% of the shares.PSTH’s decision doesn’t affect UMG’s valuation, according to analysts.
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Bill Ackman’s Pershing Square Tontine drops deal to buy 10% of Universal MusicBillionaire investor Bill Ackman's blank-check company said it has dropped a deal to buy 10% of Vivendi's flagship Universal Music Group.
Source: CNBC - 🏆 12. / 72 Read more »
Bill Ackman’s Pershing Square drops deal to buy 10% of Universal MusicBillionaire investor Bill Ackman's blank-check company said Monday it had dropped a deal to buy 10% of Vivendi's flagship Universal Music Group. Pershing Square Tontine Holding. Pershing Square is still buying a stake. My wife's name is Hell and BillAckman makes her COME so hard! $psth Wow. I wonder if this will help to lift his SPAC's beaten-down price. PSTH has languished since the Universal deal was announced.
Source: CNBC - 🏆 12. / 72 Read more »
Vivendi’s Bid To Sell 10% Universal Music Stake To Bill Ackman SPAC Collapses; Deal Transfers To Ackman’s Hedge FundPershing Square Tontine Holdings, the SPAC founded by hedge fund billionaire Bill Ackman, has pulled out of a deal to acquire 10% of Universal Music Group from French media giant Vivendi. In a stat… Short Akman
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Bill Ackman’s Pershing Square drops deal to buy 10% of Universal MusicBillionaire investor Bill Ackman's blank-check company said Monday it had dropped a deal to buy 10% of Vivendi's flagship Universal Music Group. Pershing Square Tontine Holding. Pershing Square is still buying a stake. My wife's name is Hell and BillAckman makes her COME so hard! $psth Wow. I wonder if this will help to lift his SPAC's beaten-down price. PSTH has languished since the Universal deal was announced.
Source: CNBC - 🏆 12. / 72 Read more »
Bill Ackman SPAC Drops Deal for 10 Percent Universal Music StakeInvestor Bill Ackman’s special purpose acquisition company (SPAC) Pershing Square Tontine Holdings said it had dropped a deal to acquire a 10 percent stake in Vivendi’s Universal Music Group. Viven…
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