Hedge Fund Manager Bill Ackman's Mega-spac Seals $4B Deal To Buy 10% Of Universal Music | Markets Insider
The billionaire investor is already working on another multibillion-dollar deal and has drafted plans to pursue a third one. : Bill Ackman's pitch to buy 10% of Universal Music Group (UMG) for about $4 billion has been accepted, the billionaire investor announced on Sunday. He also confirmed his intention to pursue two more multibillion-dollar deals, paving the way for fresh intrigue after seven months of speculation about his original target. Ackman's Pershing Square Tontine Holdings (PSTH), a special-purpose acquisition company (SPAC), will purchase the minority stake in Drake and Billie Eilish's record label from its parent company, Vivendi.
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