Universal Music, home to Taylor Swift, Adele and Drake, receives €55bn takeover offer
Billionaire Bill Ackman’s hedge fund has offered to buy Universal Music Group (UMG) in a deal that values the world’s biggest music company at around €55bn (£48bn). Pershing Square, the New-York based hedge fund, has offered to buy the business, which is home to artists including Taylor Swift and Elton John, in a cash and stock deal. Ackman said in a statement that while the company, which is led by the British-born Sir Lucian Grainge, had done “an excellent job nurturing and continuing to bui
O A