Billionaire investor Ackman makes $64bn bid for Universal Music Group

Universal Music, the label behind superstars Taylor Swift and Bad Bunny, is expected to list in NY from Amsterdam.

Save

Share

Billionaire investor Bill Ackman’s Pershing Square has proposed a takeover of Universal Music Group in a $64bn deal, the latest twist in his nearly five-year quest for the music label giant.

Pershing Square proposed a cash-and-shares offer on Tuesday through its acquisition vehicle that values Universal Music at about 30.40 euros ($35) per share, a 78 percent premium to the last closing price of 17.10 euros ($20), making the deal worth 55.75 billion euros ($64.31bn).