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 about €55bn (£48bn).
Pershing Square, the New-York based hedge fund, has made a bid for the business, which is home to artists including Taylor Swift and Elton John, with a cash and stock deal that would move its stock market listing from Amsterdam to New York.
