Communications-services fell, but not by as much as the broad market, amid deal activity.
Bill Ackman's activist investment firm Pershing Square Capital offered to buy Universal Music Group in a deal that values the company at around $60 billion. French media conglomerate Vivendi and its head, Vincent Bollore, hold a significant stake in the record label. Universal puts out music by some of the world's most popular recording artists, including Taylor Swift and The Beatles. Shares of Vivendi and Universal gained.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
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