Anonymousabout 4 hours ago
Bill Ackman's Pershing Square has launched a $64.4 billion cash-and-stock bid to acquire Universal Music Group and relist it on the NYSE, offering a 78% premium over UMG's pre-announcement share price. The proposal hinges on winning a two-thirds shareholder vote, with the Bolloré family's 28% stake and Tencent's 20% holding representing the decisive blocks, while UMG's board has signaled resistance and European regulators could pose additional hurdles.