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Bill Ackman

Kimberly Redmond | Equities.com |

Billionaire investor Bill Ackman will buy up to 10% of Vivendi’s Universal Music Group (UMG) through his main hedge fund instead of a special purpose acquisition company (SPAC) after severe pushback from regulators and investors regarding the deal structure.

Under the transaction announced last month, French media giant Vivendi SE had agreed to sell 10% of Universal Music Group — which is home to Taylor Swift, Drake and Billie Eilish — to Ackman’s SPAC, Pershing Square Tontine Holdings Ltd (NYSE: PSTH), for $4 billion.


Kimberly Redmond | Equities.com |

French media giant Vivendi SE has agreed to sell 10% of Universal Music Group (UMG) to Pershing Square Tontine Holdings Ltd (NYSE: PSTH), a special purpose acquisition company (SPAC) backed by billionaire investor William Ackman, for about $4 billion.

The deal — which values the music company at more than $42 billion — is expected to close by September 15, Vivendi said on Sunday.


Kimberly Redmond | Equities.com |

Billionaire investor Bill Ackman’s hedge fund, Pershing Square Capital Management LP, has amassed a 6% stake in Domino’s Pizza Inc (NYSE: DPZ), according to The Wall Street Journal.

During The Wall Street Journal’s Future of Everything Festival on Wednesday, Ackman revealed Pershing Square exited what was once a stake of more than 1% in Starbucks Corporation after the coffee chain’s quick rebound from the pandemic and picked up Domino’s shares following a pullback.