Episode 71: Ackman Exits Universal Music After Rejected Bid
Bill Ackman's Pershing Square has exited its entire €1.42 billion ($1.65 billion) stake in Universal Music Group — just days after UMG's board rejected his takeover bid. The speed of the exit, the scale of the position, and what UMG's rejection signals about governance and deal leverage at the world's largest recorded music company are all consequential for anyone doing business with or around UMG. Key Takeaways: Ackman's full exit totaled €1.42 billion (~$1.65 billion), liquidated within days of the takeover rejection — not weeks. UMG is Amsterdam-listed following its spin from Vivendi…
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