Pansing Square proposes to acquire Universal Music Group for approximately 55.8 billion euros

Gelonghui April 7 | Ackman’s company, Pershing Square Capital Management, said it has submitted a non-binding proposal to acquire Universal Music Group for approximately 55.8 billion euros (, or 64.4 billion US dollars ) in cash and stock. The acquisition offer values each share at €30.4, representing a 78% premium over Universal Music’s closing price on April 2. Under the terms of the deal, Universal Music will merge with Pershing Square to form a new company and will be listed on the New York Stock Exchange, with the transaction expected to be completed by the end of this year.