By Mauro Orru


Hedge-fund billionaire Bill Ackman said he wanted to terminate the Amsterdam listings of Pershing Square Holdings and Universal Music Group after violence in the Dutch capital that authorities called antisemitic attacks.

Ackman wrote on X that he would seek approval from the board of Pershing Square Holdings--in which he said he and his family own a 23% stake--to remove its listing from the Euronext Amsterdam and keep the stock on the London Stock Exchange.

Pershing Square and Euronext didn't immediately respond to requests for comment.

"Concentrating the listing on one exchange, the LSE, and leaving a jurisdiction that fails to protect its tourists and minority populations combine both good business and moral principles," Ackman wrote on X, where he counts 1.5 million followers. "We can also save money and improve liquidity for shareholders to boot," he added.

His remarks come in the wake of street violence following a soccer game in Amsterdam, where Israeli fans were chased down and beaten in what leaders of both the Netherlands and Israel called antisemitic attacks. Israel said it was sending planes to the Netherlands to evacuate citizens.

Ackman added that he has started talks with Universal Music, the record label behind Taylor Swift, about moving its domicile and listing to the U.S. He serves as a nonexecutive director on the company's board.

The billionaire commands a stake of more than 10% in Universal Music via Pershing Square, according to Universal's 2023 annual report. Ackman said Pershing Square had a contractual right to transfer the record label's listing to the U.S.

"We will exercise this right and achieve a U.S. listing for UMG no later than some time next year," he said.

Universal Music didn't immediately respond to a request for comment.


Write to Mauro Orru at mauro.orru@wsj.com


(END) Dow Jones Newswires

11-08-24 1044ET