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Pershing Square to Sell $1.5 Billion of Universal Music Group Shares
Pershing Square Holding will sell $1.5 billion worth of Universal Music Group shares on the Euronext Amsterdam exchange.
Hedge fund Pershing Square Holdings is parting with 50 million shares of one of its most prized assets, Universal Music Group (UMG). “We decided to sell a portion of our UMG position today,” Pershing Square CEO Bill Ackman wrote on X on Thursday (March 13). “We believe UMG is one of the best businesses we have ever owned…In a world of uncertainty, 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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