Bill Ackman’s Pershing Square Capital Unveils Takeover Bid for Universal Music Group

Bill Ackman’s Pershing Square Capital Management disclosed early Tuesday that a takeover bid for Universal Music Group has been submitted to UMG’s board. The offer includes about $10.9 billion in cash, plus additional stock that pushes the total consideration to about $35 a share. Pershing Square said that UMG’s stock has been undervalued because of […]