Universal Music Stock Drops After Bill Ackman’s Hedge Fund Cuts Stake
Universal Music stock fell after hedge-fund billionaire Bill Ackman said Pershing Square is cutting its stake in the world’s largest record label. Shares in the label behind Taylor Swift (NL:UMG) were ...
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Pershing Square Completes 2.6% UMG Stock Distribution, Says the Major Label ‘Will Remain An Attractive Long-Term Investment’
representing about 2.6% of the major label and reaching “non-Pershing Square affiliated investors.” Even after this tax-free stock distribution, Pershing Square proper holds the initially ...