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Evening Standard
Evening Standard
Henry Saker-Clark

US billionaire plots £48bn takeover of Universal Music Group

Bill Ackman’s Pershing Square investment vehicle has offered to buy music studios giant Universal Music Group (UMG) (Alamy/PA) -

Bill Ackman’s Pershing Square investment vehicle has offered to buy music studios giant Universal Music Group (UMG).

The US billionaire’s firm has proposed a cash and stock deal to take control of the Dutch-US business, which runs Abbey Road studios and labels including EMI and Island Records.

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