Bill Ackman’s Spac closes in on $40bn deal with Universal Music
Billionaire Bill Ackmans blank-cheque company is closing in on a deal to buy a 10 per cent stake in Universal Music Group for roughly $4bn (£2.8bn).
Pershing Square Tontine Holdings is in talks with Universals French owner Vivendi over the deal, which would value the record label at around $40bn.
Vivendi, controlled by billionaire Vincent Bollore, is planning to cash in on Universal by distributing 60 per cent of its capital to investors through a stock market float.
If confirmed, the Spac deal…
