PSTH confirmed earlier today (June 20) that it had entered into a definitive agreement with UMG’s majority owner, Vivendi, to acquire 10% of outstanding ordinary shares in UMG for approximately $4 billion. Later this year, after Vivendi completes the previously announced listing of UMG on Euronext Amsterdam, shares representing 10% of the music company will be distributed to PSTH shareholders.
Source: Done deal: Pershing Square SPAC is buying 10% of Universal Music Group for $4bn