Bill Ackman's hedge fund bids to buy the music label behind Taylor Swift and Harry Styles
The investment fund said the offer for Universal, which represents Taylor Swift and Bad Bunny, was worth €9.4 billion ($10.9 billion)
Jared Siskin/Getty Images
- Bill Ackman is lining up a deal to buy the world's largest music company.
- The investor's Pershing Square fund submitted a $10.9 billion offer for Universal, which is home to Taylor Swift and Bad Bunny.
- It comes as Ackman prepares to take Pershing Square public.
Bill Ackman's Pershing Square has submitted an offer to buy Universal Music, the world's largest music company.
The investment fund offered a mix of cash and shares for Universal, which represents artists including Taylor Swift, Bad Bunny, Harry Styles, and Kendrick Lamar. The bid is for €9.4 billion ($10.9 billion) in cash plus shares, which would value the group at $63.5 billion.
It comes as Ackman is looking to take Pershing Square public, with the company filing for an IPO on the New York Stock Exchange in March.
This is a developing story. Check back for updates.
Read the original article on Business Insider