William Ackman ended one of the biggest guessing games on Wall Street by unveiling his $40 billion deal with Universal Music Group on Friday, but now a new one begins as investors puzzle over the transaction and the billionaire’s next moves
.that Mr. Ackman’s special-purpose acquisition company, Pershing Square Tontine Holdings Ltd. , is in talks for what would be the largest such deal ever. It could be finalized in the next few weeks.a 10% stake in a newly public UniversalUnlike a typical SPAC deal, Pershing Square Tontine wouldn’t merge with Universal. Vivendi has been planning to spin off Universal later this year, and that won’t change.
In another departure from the typical SPAC structure, Pershing Square Tontine investors won’t vote on the deal, but they will have an opportunity to redeem their shares at about $20 apiece.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Universal Music's New US Investor: Bill Ackman SPAC Closing In on 10% StakeUniversal Music is landing another anchor investor through a new deal nearing completion with Bill Ackman's Pershing Square Capital Management company's SPAC.
Read more »
Bill Ackman's Pershing Square nears biggest-ever SPAC deal with Universal Music, source saysBillionaire investor Bill Ackman is closing in on a deal to take Universal Music public in the largest special purpose acquisition company deal ever, a source told CNBC on Thursday.
Read more »
WSJ News Exclusive | Pershing Square SPAC Nears Transaction With Universal Music GroupHedge-fund billionaire William Ackman is nearing a record SPAC deal that would value Universal Music at roughly $40 billion, people familiar with the matter said.
Read more »
Universal Music Group Is Officially SPAC MaterialUniversal Music is officially SPAC material. Here’s why billionaire Bill Ackman’s Pershing Square is looking to acquire 10% of the company for $4 billion.
Read more »
Billionaire Bill Ackman In Talks To Take Universal Music Public At $40 Billion-Plus ValuationUniversal Music, the largest publisher of music in the world, may be listed on public stock markets through a massive deal with billionaire investor Bill Ackman’s special purpose acquisition company, Pershing Square Tontine Holdings.
Read more »
Billionaire Bill Ackman In Talks To Take Universal Music Public At $40 Billion-Plus ValuationUniversal Music, the largest publisher of music in the world, may be listed on public stock markets through a massive deal with billionaire investor Bill Ackman’s special purpose acquisition company, Pershing Square Tontine Holdings.
Read more »