Pershing Square Holdings, Ltd. (ENXTAM:PSH), a fund managed by Pershing Square Capital Management, L.P. agreed to acquire additional 2.9% stake in Universal Music Group B.V. from Vivendi SE (ENXTPA:VIV) for $1.1 billion on August 31, 2021. Pershing Square intends to exercise its option to acquire 52,769,098 Ordinary Shares of Universal Music Group, representing 2.9% of the company, for approximately $21.78 per share. Post-acquisition, Pershing Square will own 10% of the UMG share capital. The transaction is expected to close by September 9, 2021.

Pershing Square Holdings, Ltd. (ENXTAM:PSH), a fund managed by Pershing Square Capital Management, L.P. completed the acquisition of an additional 2.9% stake in Universal Music Group B.V. from Vivendi SE (ENXTPA:VIV) on September 9, 2021.