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June 4, 2021, 4:54 a.m. EDT

Vivendi confirms talks with Ackman's SPAC over 10% stake in Universal Music Group

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By Callum Keown

Hedge-fund billionaire William Ackman's special purpose acquisition company (SPAC) is in talks with Vivendi /zigman2/quotes/202179234/delayed FR:VIV -1.74% 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 /zigman2/quotes/219769662/composite PSTH -0.15% and that the potential deal would give Universal Music an enterprise value of €35 billion ($42.4 billion). The French company plans to distribute 60% of Universal Music's share capital and list the company in Amsterdam, subject to shareholder approval next month. The Wall Street Journal reported late Thursday that the two sides were nearing a deal, citing sources.

/zigman2/quotes/202179234/delayed
FR : France: Euronext Paris
11.55
-0.21 -1.74%
Volume: 2.87M
Jan. 21, 2022 5:36p
P/E Ratio
10.97
Dividend Yield
5.20%
Market Cap
€12.30 billion
Rev. per Employee
N/A
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/zigman2/quotes/219769662/composite
US : U.S.: NYSE
$ 19.84
-0.03 -0.15%
Volume: 1.68M
Jan. 21, 2022 4:00p
P/E Ratio
20.47
Dividend Yield
N/A
Market Cap
$3.97 billion
Rev. per Employee
N/A
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