Reported about 7 hours ago
Billionaire Bill Ackman's Pershing Square has requested Universal Music Group (UMG) to move its secondary listing to the United States. This follows Ackman's previous decision to relocate his investment firm away from Amsterdam due to safety concerns, as well as a reduction of his stake in UMG. UMG has indicated it will initiate an underwritten offering of shares owned by Pershing by mid-September, with a requirement of selling at least $500 million worth of shares for the listing request.
Source: YAHOO