Bill Ackman wants to move Universal Music Group’s financial headquarters from Amsterdam to the United States. Universal warned that it might not be possible.

Billionaire Bill Ackman is one of the most powerful masterminds in the modern, financialized music rights industry.

Ackman, through Pershing Square Holdings, according to Universal Music Group’s 2023 annual report. 10.25% He holds shares in the company, making him UMG’s second-largest individual shareholder after Vincent Bolloré.

Ackman I also sit on the UMG Board of Directors.

Now he is calling for a structural uprooting. Address of UMG and public listing to Amsterdam; Ackman wants them both to move to the United States.

Ugh They say at least some of those requests may be out of the question.

Ackman declared on On Friday (November 8th) he wants Ugh The goal is to move the listing from Amsterdam’s Euronext stock exchange to a US stock exchange (NYSE or NASDAQ) by the end of 2025.

Ackman It further declared that internal conversations regarding the move had begun. Address of UMG (now known as its global corporate headquarters in Amsterdam) has moved to the United States.

Ackman believes there is change. UMG Listing from Amsterdam to the United States will increase the company’s public value.

However, the ‘tipping point’ is Ackman’s According to the investor, the attack was proposed for November 7th. Semite and Israeli citizen In Amsterdam after a soccer match.

AckmanKnown for being politically outspoken on Twitter, is Jewish and married to Israeli-American Neri Oxman.

wrote Ackman: “i have [begun] A conversation with Universal Music Group A company domiciled in Amsterdam (on which I sit on the board) and listed there is talking about moving its domicile to the US and going public. This will provide similar and other very material benefits.”

“bloodEarthing Square “We have the contractual right to list UMG in the United States.”

Bill Ackman

He added:Pershing Square There is a contractual right to list UMG in the United States. We will exercise this right to achieve a U.S. listing for UMG no later than sometime next year. Ugh Because they do not have a primary listing on the NYSE or Nasdaq and are not eligible for inclusion in the S&P 500 and other indices, their liquidity is largely limited and they trade at a significant discount to their intrinsic value.

“We will solve this problem. “Now is a good and appropriate time to do so.”

On Saturday (November 9th) universal music group The company responded to Ackman’s suggestion in a statement. The contents are as follows:

“We paid attention Bill Ackman’s Related posts Pershing Square and Ugh Yesterday at none of them Ugh None of the other board members were involved in formulating the views in that post.

“As revealed in UMG According to the listing prospectus, Pershing said the Pershing entity would have at least [USD] 500 million dollars It will be included in UMG stock as part of the listing.

“Pershing has no right to require UMG to become a U.S.-based company or to demand delisting from Euronext Amsterdam.”

Universal Music Group Statement

“pershing You have no right to demand Ugh Become a US-based company or be delisted from Euronext Amsterdam. The Company will endeavor in good faith to comply with its contractual obligations in connection with conducting the U.S. listing process as requested. pershingAny action or decision beyond what is necessary to comply (including the decision to change the Company’s address) will be based on an analysis that considers maximizing value and the best interests of all of the Company’s shareholders.”

with that 10.25% Current stock, Ackman/Pershing Square currently owns a stake in UMG worth approx. 4.45 billion euros – equal 4.77 billion dollars. (UMG is currently market capitalization 43.37 billion euros from Euronext).

That is, according to UMG’s statement: Ackman/Pershing Approximately a tenth of UMG’s shares, currently headquartered in Amsterdam, US, will need to be relisted. 500 million dollars threshold) to force new listings on Nasdaq or NYSE.

But even if that happens, it won’t affect Ackman’s other requests. Ugh Either move your official address or be completely delisted from Euronext in Amsterdam.worldwide music business