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Bill Ackman’s Pershing Square to Raise $1.4 Billion From Sale of 2.7% of Universal Music Group
Bill Ackman’s Pershing Square expects to raise $1.4 billion from the sale of a 2.7% stake in Universal Music Group.
Bill Ackman ’s Pershing Square expects to raise $1.4 billion from the sale of a 2.7% stake in Universal Music Group, according to a report in Bloomberg. “UMG has substantially outperformed the rest of our portfolio (other than the GSEs) year to date in light of its extremely strong recent results. “In a world of uncertainty,” he concluded, “owning a royalty on music with the best management team in the industry is a blissfully comfortable and profitable place to be.”
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