Reported 15 days ago
Universal Music Group (UMG) has asserted that billionaire Bill Ackman and his Pershing Square fund lack the authority to force the company to relocate its domicile to the U.S. or to delist from Euronext Amsterdam. UMG's response follows Ackman’s claim of a 'contractual right' to dictate such changes amidst recent antisemitic incidents in Amsterdam. UMG stated that while they will honor any contractual obligations regarding a potential U.S. listing, decisions will prioritize maximizing value for all shareholders.
Source: YAHOO