Taylor Swift's Label, UMG, Receives $64B Bid From Bill Ackman [Yahoo! Finance]
VIVENDI SE UNSP/ADR (VIVHY)
NASDAQ:AMEX Investor Relations:
vivendi.com/en/investment-analysts
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Source: Yahoo! Finance
The merger would unite UMG's impressive roster of artists, including Taylor Swift , Billie Eilish, and Kendrick Lamar, with Pershing Square's investment expertise. Billionaire Bill Ackman bids for Taylor Swift's label, UMG Bill Ackman's Pershing Square Capital Management is making waves with a $64 billion proposal to merge with UMG. The deal values UMG at around $35 per share, a 78% premium to its last closing price, and would see the company listed on the New York Stock Exchange. The proposed merger would involve Pershing Square's SPARC Holdings uniting with UMG, with its shareholders receiving $10.85 billion in cash and 0.77 shares in the new company for every share held. Michael Ovitz, former Disney president, would join as board chair, and Lucian Grainge would remain UMG's CEO. Interestingly, UMG shares jumped 11% on the news of Bill Ackman's $64 billion takeover proposal, reflecting the market's enthusiasm for the deal. Additionally, Vivendi and Bolloré also rose 11% and
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