"The speculative acquisition cost that we have seen is $64 billion. UMG's stock listing would move from Amsterdam to the New York Stock Exchange."
"If executed, current shareholders would receive 5.05 Euros ($5.84) per share. Interestingly, an artist payout is reportedly planned which would sell UMG's stake in Spotify."
"The attempted takeover requires approval from two-thirds of UMG. French billionaire Vincent Bollore' controls about 28% of Spotify, and Tencent Holdings owns 11%."
Bill Ackman is pursuing a $64 billion acquisition of Universal Music Group (UMG) to merge it with Pershing Square SPARC Holdings, forming New UMG in Nevada. UMG's stock would transition from Amsterdam to the New York Stock Exchange. The acquisition faces potential challenges from the Bollore family, which holds over 30% of UMG. If successful, shareholders would receive 5.05 Euros per share. Additionally, UMG plans to sell its stake in Spotify, valued at over $3 billion, as part of the deal.
Read at RAIN News
Unable to calculate read time
Collection
[
|
...
]