Pershing Square unveils deal valuing Universal Music at €55 billion
Bill Ackman's Pershing Square announced a transaction valuing Universal Music Group at up to 55 billion euros, saying the company is undervalued by stock markets.
American hedge fund Pershing Square, led by activist investor Bill Ackman, announced Tuesday a transaction valuing Universal Music Group at up to 55 billion euros. Pershing Square said it believed the music giant was undervalued by stock markets.