Pershing Square Confirms Exit from Euronext Amsterdam, Pressure Mounts on UMG's Future
Pershing Square Holdings will delist from Euronext Amsterdam, with shares continuing to trade on the London Stock Exchange in dollars and pounds. This decision follows CEO Bill Ackman's urgent recommendation after antisemitic attacks against Israeli soccer fans in Amsterdam.
The move aims to reduce regulatory complexity and improve liquidity, according to Pershing Square Chairman Rupert Morley. The Ackman family maintains a 23% stake in the investment holding company.
Bill Ackman speaking on stage
Photo Credit: Senate Democrats / CC by 2.0
This development has sparked discussions about Universal Music Group (UMG), where Pershing Square holds a 10.25% stake. UMG, which listed on Euronext Amsterdam in 2021, has pushed back against Ackman's suggestion to delist.
A UMG spokesperson clarified their position: Pershing Square has the right to request a U.S. listing only if they sell at least $500 million in UMG shares as part of the process. However, Pershing cannot force UMG to become U.S.-domiciled or delist from Euronext Amsterdam.
While UMG will honor its contractual obligations regarding a potential U.S. listing process, any additional actions will be evaluated based on maximizing value for all shareholders.
Armed robbery of two men
Woman in chair at conference
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