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Billionaire Bill Ackman Calls on Universal Music to Move Its Listing to U.S. After Amsterdam Attacks, UMG Says He Does Not Have That Right
After antisemitic attacks in Amsterdam, billionaire Bill Ackman called on Universal Music to delist from the city; UMG says he doesn't have that right.
Billionaire Bill Ackman said in a social media post on Friday that he will attempt to terminate the Amsterdam listings of Pershing Square Holdings and Universal Music Group and has a “contractual right” to move UMG’s listing to the United States, following attacks on Israeli soccer fans in the city — although the company posted a statement on Saturday disputing that claim. Ackman said that moving UMG’s domicile, which is publicly traded from Amsterdam to the U.S., will have “highly material benefits,” and that “Leaving a jurisdiction that fails to protect its tourists and minority populations combine both good business and moral principles.” Amsterdam Mayor Femke Halsema said Maccabi Tel Aviv fans had been “attacked, abused and pelted with fireworks” around the city on Thursday night, according to Reuters, and that riot police intervened to protect them and escort them to hotels.
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