Universal Music Receives Bid From Bill Ackman’s Pershing Square
Bill Ackman’s Pershing Square has submitted a bid to buy Universal Music Group (UMG) in a cash and stock deal worth $64.4 billion. The proposed bid would see shareholders receive $10.85 billion in cash and 0.77 shares of stock in the new company for each share of UMG held. In a statement this morning, Ackman…