15.5 C
Munich
Monday, July 26, 2021

Ackman SPAC Decides Against Buying 10% Stake in Universal Music Group

Must read

Maggie MacNeil wins Canada’s first gold medal at Tokyo Olympics in 100m butterfly

The silver medal went to China's Zhang Yufei and the bronze to Australia's Emma McKeon. 

Alberta family cheers as Olympian who recovered from childhood brain injury heads to rowing finals

Support is rolling in for a 32-year-old Alberta rower who advanced to the Olympic finals this weekend and overcame serious injuries that included two...

Norway secures gold in men’s Olympic triathlon – National

By Mitch Phillips Reuters Posted July 25, 2021 7:56 pm Smaller font Descrease article font size -A Larger font Increase article font size A+

Universal Music’s headquarters in Santa Monica, Calif., earlier this year.



Photo:

Bing Guan/Bloomberg News

Pershing Square Tontine Holdings Ltd.

PSTH -1.81%

said it has decided not to buy a 10% stake in Universal Music Group and will assign its share-purchase deal to Pershing Square Holdings Ltd.

Vivendi SE

VIVHY -0.72%

said it approved Pershing Square Tontine’s request to assign its rights and obligations under a June 20 agreement to investment funds with significant economic interests or management positions held by

William Ackman.

On June 20, Pershing Square Tontine agreed to buy 10% of the ordinary shares of Universal Music in a deal valuing the world’s largest music company at about $40 billion.

Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Maggie MacNeil wins Canada’s first gold medal at Tokyo Olympics in 100m butterfly

The silver medal went to China's Zhang Yufei and the bronze to Australia's Emma McKeon. 

Alberta family cheers as Olympian who recovered from childhood brain injury heads to rowing finals

Support is rolling in for a 32-year-old Alberta rower who advanced to the Olympic finals this weekend and overcame serious injuries that included two...

Norway secures gold in men’s Olympic triathlon – National

By Mitch Phillips Reuters Posted July 25, 2021 7:56 pm Smaller font Descrease article font size -A Larger font Increase article font size A+