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Ackman reinvents SPAC in Universal Music deal talks

William Ackman’s Pershing Square Tontine Holdings (PSTH.N) said on Friday it was in talks to buy 10% of Universal Music Group at a 35 billion euro ($42 billion) valuation, in a departure from the playbook of special purpose acquisition companies (SPACs).

Ackman reinvents SPAC in Universal Music deal talks

William Ackman’s Pershing Square Tontine Holdings (PSTH.N) said on Friday it was in talks to buy 10% of Universal Music Group at a 35 billion euro ($42 billion) valuation, in a departure from the playbook of special purpose acquisition companies (SPACs).

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