Ackman Pitches $65 Billion UMG Deal to Move Listing to US (1)

Billionaire investor Bill Ackman is pitching a deal for Universal Music Group NV — the record label giant behind celebrities including Taylor Swiftand Drake — that he’s claiming will dramatically boost the value of the company largely by moving its listing to the US.

Ackman’s investment firm Pershing Square Capital Management, which controls more than 4.5% of UMG shares, is pushing to combine the record label with an acquisition vehicle publicly traded in the US. Ackman estimated that the deal would value UMG at about €56 billion ($64.8 billion), assuming that a New York listing and a financial ...