Pershing Square Holdings Ltd - investment firm - Confirms discussions with Vivendi SE to acquire 10% of the outstanding shares of Universal Music Group BV for USD4 billion, representing an enterprise value of EUR35 billion for UMG. "UMG meets all of our acquisition criteria and investment principles as it is the world's leading music company, with a royalty on the growing global demand for music. We are delighted to work with Vivendi on this iconic transaction, and look forward to its consummation," says Bill Ackman, chief executive of Pershing Square.
Pershing Square current stock price: 2,560.00 pence, closed down 1.9% in London on Friday
Year-to-date change: down 0.2%
Vivendi current stock price: EUR29.17, closed down 0.3% in Paris on Friday
Year-to-date change: up 11%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Pershing Square Holdings (PSH)