PSTH near $40B deal with Universal Music - report - Breaking The News

PSTH near $40B deal with Universal Music - report

3 June

1 min read

EPA/SOEREN STACHE

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.

mergers and acquisitions universal music pershing square spac

Related Stocks

Vivendi

Pershing Square T...

Merck to buy Hengrui Pharma's drug for up to $1.8B

25 March

Merck & Co. Inc. said on Tuesday that it entered into an exclusive license agreement with Jiangsu Hengrui Pharmaceuticals Co. Ltd. for a cardiovascular disease drug HRS-5346, currently in a phase 2 trial in China. Merck will pay $200 million upfront and commit to milestone payments of up to $1.8 billion, as well as royalties on net sales.The drug is an investigational oral small molecule inhibitor of lipoprotein(a) formation (lp(a)). "Elevated blood concentrations of...

Apollo takes 25% stake in BP Pipelines for $1B

21 March

BP plc announced on Friday that Apollo Funds will buy a non-controlling 25% stake in its pipelines business for around $1 billion. The transaction is expected to close in the second quarter of 2025. BP Pipelines owns a 12% interest in the Trans-Anatolian gas pipeline (TANAP), which carries natural gas from Azerbaijan across Turkey.BP said the funds will go toward its plan for $20 billion in divestment and other proceeds. "This [deal] unlocks capital from our...

QXO buys Beacon Roofing for $11B

20 March

QXO and Beacon Roofing Supply, Inc. announced on Thursday that they have entered into a definitive merger agreement under which QXO will acquire Beacon for $124.35 per share in cash."The boards of directors of both companies have unanimously approved the transaction, which values Beacon at approximately $11 billion, including all its outstanding debt," the statement showed.The transaction is expected to close by the end of April, subject to a...

Google confirms $32B acquisition of Wiz

18 March

Alphabet Inc.'s Google LLC confirmed on Tuesday that it had struck an acquisition deal with Wiz, Inc., worth $32 billion."This acquisition represents an investment by Google Cloud to accelerate two large and growing trends in the AI era: improved cloud security and the ability to use multiple clouds (multicloud)," the tech giant revealed in a statement.The products of Wiz will still be available across all major clouds, including Amazon Web Services,...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.