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PSTH recently announced its intention to purchase a 10% stake in Universal Music Group. Shares sold off following the announcement, and are just trading at a 10% premium above NAV at ~$22. Investors are discounting UMG and giving no value to the optionality of being exposed to Ack...
Pershing Square's Bill Ackman has done an interesting deal for a share of a good asset. The transaction for Universal Music doesn't seem exciting. But within the complexity of the deal, there may be opportunity in the future. For further details see: Pershing Square Tont...
Bill Ackman expects that his $4B deal for Pershing Square Tontine Holdings (PSTH -13.5%) to buy 10% of Universal Music Group will close later this month. The blank-check company is likely to finalize the deal by June 22, he tells CNBC - the same day that UMG's owner, Vivendi (VIVHY), is holdi...
Pershing Square Tontine Holdings just announced a complex deal to buy 10% of UMG shares. After the deal, PSTH shares will still be outstanding. This is an initial review of what the value to shareholders and warrantholders could look like. In short, shareholders are probably O...
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Bill Ackman made waves on Friday when he confirmed his Pershing Square Tontine Holdings (NYSE: PSTH ) was in talks to acquire a stake in Universal Music Group . The immediate reaction was negative, sending PSTH stock...
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Investors don’t seem to like the latest tune that they’re hearing from Pershing Square Tontine Holdings (NYSE: PSTH ). Shares of PSTH stock are down more than 7% in pre-market trading after the comp...
WSJ reported today that Bill Ackman’s Pershing Square Tontine is nearing a ~$42B EV SPAC deal for Universal Music Group. Bollore has a ~22% ownership stake in Universal Music Group through its 27% ownership of Vivendi. Bollore is trading at a wide discount to its implied in...
Pershing Square Holdings has confirmed the report that it's pursuing a transaction with Vivendi (VIVHY) over the French media conglomerate's Universal Music Group, the world's largest music company. Pershing Square Tontine Holdings (PSTH) says it's in discussions to acquire 10% of the ordinar...
Ruane, Cunniff, & Goldfarb’s 13F portfolio value increased from $8.40B to $9.38B this quarter. The number of positions increased from 35 to 38. They added Netflix and increased Credit Acceptance Corp while reducing Wayfair during the quarter. The top three positions are...
Vivendi (VIVEF) up 16% in France on spinning of Universal Music Group ((UMG)).The board plans a distribution of 60% of UMG’s share capital to Vivendi shareholders in kind in the form of a special dividend.The listing of UMG shares, a holding company would be ap...