Billionaire investor Bill Ackman unveils his plans to spend up to $14 billion on deals – and confirms his mega SPAC is seeking to buy 10% of Universal Music for $4 billion
Bill Ackman
Mike Blake/ Reuters
Billionaire investor Bill Ackman confirmed on Friday that his special-purpose acquisition company is in talks to spend about $4 billion for a 10% stake in Universal Music Group. He also unveiled plans to launch a new investment vehicle and deploy up to $14 billion on future transactions.
Ackman’s SPAC, Pershing Square Tontine Holdings, hopes to acquire the UMG shares from Vivendi, a French media conglomerate. Vivendi plans to list UMG on the Euronext Amsterdam exchange…
