Entertainment
UMG Says Bill Ackman Can’t Require It to Delist From Euronext
- Ackman wants Pershing Square, UMG to delist from Euronext
- Shares of UMG jumped Friday after Ackman’s post on delisting
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Universal Music Group NV pushed back against billionaire Bill Ackman, saying his Pershing Square fund doesn’t have any right to require the company to become US domiciled or to delist from Euronext Amsterdam.
Ackman said in a post on X Friday that he had begun a conversation with UMG to move its domicile and listing, saying that his fund has a “contractual right” to cause UMG to be listed in the US. The billionaire fund manager is also seeking board approval to delist Pershing Square Holdings from the Euronext Amsterdam, saying that this week’s antisemitic attacks on Israeli football fans in the city provided a “tipping point.”