Bill Ackman's SPAC Pershing Square falls 7% premarket after Vivendi confirms talks to buy Universal Music stake-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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

Dow Jones2021-06-04

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

Shares of Pershing Square Tontine Holdings Ltd. $(PSTH)$, 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. Vivendi said talks have given Universal Music an enterprise value of EUR35 billion ($42.4 billion). If the deal is approved, it would be the biggest SPAC deal on record, exceeding the $35 billion that Singaporean ride-hailing company Grab Holdings Inc. was valued at in a similar deal recently, according to Dealogic, the Wall Street Journal reported. Ackman created the SPAC last year in the midst of a craze for the vehicle, in which a company raises capital in an initial public offering and then has about two years to find a business or businesses to acquire. Ackman's SPAC raised more than $4 billion, making it the biggest ever when it went public last July.

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$(END)$ Dow Jones Newswires

June 04, 2021 06:46 ET (10:46 GMT)

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radikai2222
·2021-06-05
Seriously... This is the technology?
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Vivendi said talks have given Universal Music an enterprise value of EUR35 billion ($42.4 billion). If the deal is approved, it would be the biggest SPAC deal on record, exceeding the $35 billion that Singaporean ride-hailing company Grab Holdings Inc. was valued at in a similar deal recently, according to Dealogic, the Wall Street Journal reported. Ackman created the SPAC last year in the midst of a craze for the vehicle, in which a company raises capital in an initial public offering and then has about two years to find a business or businesses to acquire. Ackman's SPAC raised more than $4 billion,  making it the biggest ever when it went public last July. \n</p>\n<p>\n  -Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  June 04, 2021 06:46 ET (10:46 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VIVHY":"Vivendi SE","01026":"环球实业科技","PGLC":"Pershing Gold Corporation","SQ":"Block","UVV":"环球烟草","PSTH":"Pershing Square Tontine Holdings","VIVEF":"Vivendi SE"},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2140140350","content_text":"MW Bill Ackman's SPAC Pershing Square falls 7% premarket after Vivendi confirms talks to buy Universal Music stake\n\n\n  Shares of Pershing Square Tontine Holdings Ltd. $(PSTH)$, 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. Vivendi said talks have given Universal Music an enterprise value of EUR35 billion ($42.4 billion). If the deal is approved, it would be the biggest SPAC deal on record, exceeding the $35 billion that Singaporean ride-hailing company Grab Holdings Inc. was valued at in a similar deal recently, according to Dealogic, the Wall Street Journal reported. Ackman created the SPAC last year in the midst of a craze for the vehicle, in which a company raises capital in an initial public offering and then has about two years to find a business or businesses to acquire. Ackman's SPAC raised more than $4 billion,  making it the biggest ever when it went public last July. \n\n\n  -Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  June 04, 2021 06:46 ET (10:46 GMT)\n\n\n  Copyright (c) 2021 Dow Jones & Company, Inc.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":1,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}