Pershing Square Tontine Assigns Universal Music Deal to William Ackman Funds
19 Juillet 2021 - 08:59AM
Dow Jones News
By Adria Calatayud
Pershing Square Tontine Holdings Ltd. said Monday that it has
decided not to proceed with its proposed acquisition of a 10% stake
in Universal Music Group and will assign its share-purchase deal to
Pershing Square Holdings Ltd.
Vivendi SE said it has approved Pershing Square Tontine's
request to assign its rights and obligations under a June 20
agreement to investment funds with significant economic interests
or management positions held by William Ackman.
On June 20, Pershing Square Tontine agreed to acquire 10% of the
ordinary shares of UMG in a deal valuing the world's largest music
company at about $40 billion.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 19, 2021 02:55 ET (06:55 GMT)
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