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Apr 7, 2026 8:00 AM

Bill Ackman's Pershing Square Bids $64 Billion For Taylor Swift Label Universal Music— Stock Soars 11%

Shares of Universal Music Group N.V. (OTC:UNVGY) surged over 11% on Tuesday, as Bill Ackman’s hedge fund Pershing Square offered to buy the world’s biggest music label in a cash-and-stock deal worth around 55.8 billion euros ($64.4 billion).

Under the deal, which is expected to be completed by year-end, UMG shareholders will receive €9.4 billion ($10.85 billion) in cash along with 0.77 shares of new stock for each share they own. This values the transaction at €30.4 per share, representing a 78% premium to UMG's April 2 closing price. Pershing’s SPARC ⁠Holdings would merge with UMG, and the new entity would become a Nevada corporation listed on the New York Stock Exchange.

Shares of Universal Music Group, behind global ...