6/4, 1:22 AM (Source: TeleTrader)
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PSTH near $40B deal with Universal Music - report

Special purpose acquisition company Pershing Square Tontine Holding (PSTH) is close to reaching a $40 billion deal with Universal Music Group B.V., media in the United States reported. If closed, it will be the largest SPAC transaction to date.

Universal Music's parent company Vivendi announced in February that it plans to take 60% of its shares public by the end of 2021, spinning it off into a company valued at least at €30 billion. It is currently unclear how a potential deal with PSTH will affect the plans.

Breaking the News / DJ