Bill Ackman’s Pershing Square Proposes $64.3 Billion Acquisition of Universal Music Group

Bill Ackman's Pershing Square has proposed a massive acquisition of Universal Music Group (UMG) in a deal valued at approximately $64.3 billion (€55.75 billion). The offer values UMG at €30.4 per share, representing a significant 78% premium over the closing price on April 2. Under the terms, shareholders would receive €5.05 per share in cash along with 0.77 shares in the new entity for every UMG share held. Following the announcement, UMG shares surged by as much as 28% in Amsterdam trading as investors reacted to the substantial premium. Ackman aims to shift UMG's primary listing from Amsterdam to New York to tap into deeper liquidity and address the stock's recent underperformance. This strategic move is designed to unlock higher valuations for the music giant while consolidating Pershing Square's position in the global media landscape.