Billionaire investor Ackman makes $64bn bid for Universal Music Group

Billionaire investor Bill Ackman, through Pershing Square, has proposed a $64 billion takeover bid for Universal Music Group, valuing the company at about 30.40 euros per share, a 78% premium over the last closing price. Universal Music, home to artists like Taylor Swift and Billie Eilish, is expected to move its listing to New York, potentially attracting more investors. Ackman, known for his activism in corporate America, aims to transform the company to enhance its financial performance.