PSTH - Vivendi ADRs jump to session highs on report of Third Point stake

J2R/iStock Editorial via Getty Images Videndi SE ADRs (VIVHY) rose to session highs, up 1%, after a report that activist Dan Loeb's Third Point accumulated a state in the French company. Third Point has held the position for several months and hasn't said its position on the company's plan to sell a 10% stake in Universal Music Group to Bill Ackman's SPAC Pershing Square Tontine (PSTH), according to traders, who cited a Bloomberg report. Pershing Square Tontine fell 1.2%. Last week, Pershing Square Tontine gains after Bill Ackman retweets deal sketch.

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Vivendi ADRs jump to session highs on report of Third Point stake