Business

Bill Ackman's SPAC falls after confirming talks to acquire 10% of Universal Music in long-awaited deal

10 days ago   |   By Business Insider

Summary List Placement Billionaire Bill Ackman's special purpose acquisition company Pershing Square Tontine Holdings fell as much as 11.6% Friday after it confirmed it is in talks to reach a deal with Universal Music.
Shares of the blank check company traded around $22.50 shortly after the Friday opening bell.
Friday morning Pershing Square Tontine Holdings confirmed that it is in discussions with Vivendi to acquire 10% of the outstanding ordinary shares of Universal Music Group for approximately $4 billion.
The deal with Universal would be the largest SPAC transaction on record...
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