Bill Ackman's hedge fund bids to buy the music label behind Taylor Swift and Harry Styles
· Business Insider
Bill Ackman
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- Bill Ackman is lining up a deal to buy the world's largest music company.
- The investor's Pershing Square fund submitted a $10.9 billion offer for Universal, which is home to Taylor Swift and Bad Bunny.
- It comes as Ackman prepares to take Pershing Square public.
Bill Ackman's Pershing Square has submitted an offer to buy Universal Music, the world's largest music company.
The investment fund offered a mix of cash and shares for Universal, which represents artists including Taylor Swift, Bad Bunny, Harry Styles, and Kendrick Lamar. The bid is for €9.4 billion ($10.9 billion) in cash plus shares, which would value the group at $63.5 billion.
It comes as Ackman is looking to take Pershing Square public, with the company filing for an IPO on the New York Stock Exchange in March.
This is a developing story. Check back for updates.
Read the original article on Business Insider