Reported about 6 hours ago
Universal Music Group NV has announced plans to conduct a US share sale by September 15 to satisfy an agreement with billionaire Bill Ackman's Pershing Square hedge fund. The deal involves the sale of $500 million worth of shares owned by Pershing Square, which aims to boost UMG's valuation and attract more investors. Ackman believes that a US listing will enhance liquidity and analyst coverage for UMG, the largest music company globally, representing major artists like Billie Eilish and Taylor Swift.
Source: YAHOO