Vivendi SE

Pershing Square Tontine Holdings

Billionaire investor Bill Ackman's SPAC Pershing Square Tontine Holdings (NYSE: PSTH) said on Monday it is no longer pursuing a deal to buy 10% of Universal Music Group, a unit of Vivendi SE (OTC: VIVHY). What Happened: Ackman-led special purpose acquisition company had last month said it was buying the 10% stake in Universal for about $4 billion, creating a new special purpose acquisition rights company, or a SPARC, which was expected to trade on the NYSE or Nasdaq.

Bill Ackman's SPAC Abandons Universal Music Group Deal Over SEC Objections

Pershing Square Holdings Limited (LON:PSH) Is to acquire a 10% stake in Universal Music Group from Vivendi after US authorities blocked attempts to use a SPAC for the deal. Pershing Square Tontine Holdings (PSTH), a special purpose acquisition company or SPAC, was originally supposed to acquire the stake.

Pershing Square to acquire Universal Music stake after SPAC deal blocked

Billionaire investor Bill Ackman's blank-check company said Monday it had dropped a deal to buy 10% of Vivendi's flagship Universal Music Group.

Bill Ackman's Pershing Square drops deal to buy 10% of Universal Music

Billionaire investor William Ackman's Pershing Square Tontine Holdings has dropped a deal to buy 10% of Vivendi's Universal Music Group (UMG), the label that is home to musicians such as Taylor Swift.

Bill Ackman's Pershing drops deal for Vivendi's Universal Music Group

PARIS (Reuters) -Vivendi won a court case on Wednesday against a group of institutional investors that sought 1 billion euros in damages, alleging the media giant made false statements during a merger deal two decades ago.

Vivendi wins case against group of investors seeking damages

Warner Music Group

Dramatically increased costs and lagging demand should equate to lower margins and decreased earnings for the major record labels. The post The Music Is About to Stop for the Big Record Labels appeared first on InvestorPlace.

The Music Is About to Stop for the Big Record Labels

Vivendi shareholders overwhelmingly backed the spinoff of its lucrative Universal Music Group, home to recording artists like Taylor Swift, Lady Gaga and Ed Sheeran.

Vivendi shareholders back spinoff of Universal Music Group

Shareholders of French media giant Vivendi approved on Tuesday a contested proposal that allows group to buy back and cancel shares for up to 50% Vivendi's capital.

Vivendi shareholders approve contested share buyback and cancellation program

Shareholders of French media giant Vivendi overwhelmingly approved on Tuesday its plan to spin off its prized Universal music business.

Vivendi shareholders approve plan to spin-off Universal division

Vivendi holders will vote Tuesday on the French media group's proposed spin-off of the iconic Universal Music Group.

Vivendi awaits key shareholder vote on Universal Music Group spin-off

Pershing Square Tontine Holdings Ltd. ( PSTH , Financial), the special purpose acquisition company backed by billionaire hedge fund investor Bill Ackman (Trades, Portfolio), announced on Sunday it has signed a deal to buy 10% of Universal Music Group from Vivendi SA ( XPAR:VIV , Financial) for $4 billion.

Bill Ackman's SPAC Strikes Deal for 10% Stake in Universal Music Group

Billionaire hedge fund manager Bill Ackman has agreed to buy 10% of Universal Music Group for about $4 billion.

Ackman's SPAC takes Universal Music Group stake in $4B deal

Vivendi has agreed to sell 10% of Universal Music to a so-called blank check company backed by hedge fund billionaire Bill Ackman for about $4 billion.

Bill Ackman's SPAC buys 10% of the music giant behind Kanye West

Billionaire investor Bill Ackman bought a 10 percent stake in Vivendi's Universal Music Group for $4 billion, valuing the world's largest record label -- which is home to Drake, Taylor Swift and Billy Eilish -- at around $42 billion.

Vivendi sells 10 percent stake in Universal Music Group to Ackman's SPAC

French media group Vivendi will seek investor support on Tuesday to spin off its prized Universal music business, a plan criticized by activist funds for benefiting top shareholder Vincent Bollore more than smaller investors.

Vivendi faces investor test over plans for Universal spin-off

The billionaire investor is already working on another multibillion-dollar deal and has drafted plans to pursue a third one.

Hedge fund manager Bill Ackman's mega-SPAC seals $4 billion deal to buy 10% of Universal Music

Pershing Square Tontine Holdings (NYSE: PSTH), a blank-check firm owned by billionaire investor William Ackman said on Sunday it is buying 10% of Universal Music Group, a unit of Vivendi SE (OTC: VIVHY), for about $4 billion. What Happened: Universal Music Group, which is home to artists such as Taylor Swift and Lady Gaga, is being listed on the Euronext Amsterdam in the third quarter this year in a planned spinoff from the French media conglomerate Vivendi.

Bill Ackman's SPAC To Buy 10% Stake In Universal Music Group From Vivendi In $4B Deal

French media giant Vivendi has reached a deal to sell a 10% stake in Universal Music Group to hedge fund billionaire Bill Ackman's Pershing Square in a deal that values the music company at more than $42 billion. According to Vivendi, the agreement will be finalized by Sept. 15. Universal operates labels responsible for artists including...

Vivendi Sells 10% Stake in Universal Music Group to Bill Ackman's Pershing Square

Vivendi, controlled by French billionaire Vincent Bollore, said on Sunday it had signed a deal to sell 10% of Universal Music Group (UMG) to Pershing Square Tontine Holdings.

Pershing Square signs deal to buy 10% of Vivendi's Universal - statement

NEW YORK--(BUSINESS WIRE)--Pershing Square Tontine Holdings, Ltd. (NYSE:PSTH) (“PSTH”), a special purpose acquisition company, announced today that it had entered into a definitive agreement with Vivendi S.E. (“Vivendi”) to acquire 10% of the outstanding Ordinary Shares of Universal Music Group B.V. (“UMG”) for approximately $4 billion. Later this year, after Vivendi completes the previously announced separation from and listing of UMG on Euronext Amsterdam, the acquired UMG shares will be dist

Pershing Square Tontine Holdings, Ltd. (“PSTH”) to Acquire 10% of the Ordinary Shares of Universal Music Group (“UMG”) from Vivendi S.E.

French media conglomerate Vivendi SE plans to spin off 60% of Universal Music Group. Ahead of a vote, some shareholders say the deal is “suboptimal.

Vivendi's UMG Spinoff Hits Wrong Notes With Some Investors

Billionaire hedge fund manager Daniel Loeb's Third Point owns a substantial stake in Vivendi SE and is "evaluating" the French media giant's plan to sell a stake in its Universal Music Group to rival billionaire investor William Ackman, a source familiar with the firm's holdings said on Monday.

Loeb's U.S. hedge fund Third Point owns Vivendi stake - source

French billionaire Vincent Bollore's family-owned group has pledged to media giant Vivendi that it will not request an exemption to file a tender offer on Vivendi's shares if it crosses the 30% threshold in capital ownership or voting rights, Vivendi said.

Bollore won't seek exemption of tender offer rules on Vivendi

Shares of Pershing Square Tontine Holdings Ltd. , the special purpose acquisition corporation, or SPAC, created by billionaire investor Bill Ackman, fell 7.4% in premarket trade Friday, after Vivendi SE confirmed it is in talks to sell Pershing a 10% stake in Universal Music Group.

Bill Ackman's SPAC Pershing Square falls 7% premarket after Vivendi confirms talks to buy Universal Music stake

Hedge-fund billionaire William Ackman's special purpose acquisition company (SPAC) is in talks with Vivendi to buy a 10% stake in Universal Music Group, the French media conglomerate said in a statement on Friday. Vivendi said it had entered discussions with Ackman's Pershing Square Tontine Holdings and that the potential deal would give Universal Music an enterprise value of €35 billion ($42.4 billion).

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