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Bill Ackman's Pershing Square Holdings has acquired an initial stake in Universal Music Group from owner Vivendi (VIVHY -0.4%). Pershing Square and affiliates are taking holdings representing 7.1% of Universal Music for about $21.78 per share; that marks total cash consideration of $2.8 billi...
Vivendi SE (VIVEF): 1H Adjusted net income of €724MRevenue of €8.22B (+8.4% Y/Y)Press Release For further details see: Vivendi SE reports 1H results
InvestorPlace - Stock Market News, Stock Advice & Trading Tips The last time I wrote about Pershing Square Tontine Holdings (NYSE : PSTH ) was at the beginning of May. At the time, PSTH stock was down 27% from its February high. But without a target, investors...
Snap (SNAP) is up 2% premarket after setting a licensing deal with the world's largest record label group. The camera-forward social media company has a new pact with Universal Music Group (VIVHY), Bloomberg reports. The new deal spans recorded music and augmented reality experiences, the com...
Bryan Bedder/Getty Images Entertainment Hedge fund billionaire Bill Ackman said he could see a stock listing for Universal Music Group ((UMG)) in the U.S. after it lists in Amsterdam in September, Reuters reports, citing a conference call with investors on Tuesday. He doesn't expect there to ...
The much anticipated PSTH deal dropped. My initial review leads me to believe the market is going to take this announcement as a positive. The proposed deal likely has the most implications for the tontine warrant and consequently the common share price. For further details ...
Bryan Bedder/Getty Images Entertainment Many had eyed hedge fund billionaire Bill Ackman's special-purpose acquisition company since its launch last year as the SPAC rage reached record heights. Word of a deal finally came several weeks ago as Pershing Square Tontine Holdings (PSTH) announced...
Ruane, Cunniff, & Goldfarb’s 13F portfolio value increased from $9.38B to $10.63B this quarter. The number of positions decreased from 38 to 37. They added Micron Technology and Anthem, Inc. while reducing Mastercard, Visa, Berkshire Hathaway, Wayfair, and Arista Networks d...
As it stands, the disclosed potential deal doesn't make a lot of sense. It seems like there's something missing that would explain why Ackman and Pershing Square would go to this length. It is also unclear to me why it took so long; the deal appears to have little downside to Vive...
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...