PSTH to finalize UMG deal by June 22 - Ackman

Friday, 04. June 2021 18:29

Pershing Square Tontine Holdings, owned by billionaire Bill Ackman, expects to finalize the transaction to obtain a 10% stake in Universal Music Group for about $4 billion by June 22.

Speaking for CNBC on Friday, Ackman shared his excitement about the agreement confirming yesterday's media reports on the deal that would value Universal Music at $42.4 billion.

Vivendi's subsidiary is still expected to undergo public listing in Europe in the third quarter of the year.

Related Links: Vivendi S.A.
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