American billionaire Bill Ackman’s investment firm has launched a blockbuster offer to acquire the world’s largest music label, Universal Music Group, in a deal that could reshape the global entertainment industry.
Pershing Square Capital Management, the investment company controlled by US billionaire Bill Ackman, has tabled a €56 billion bid to take over Universal Music Group (UMG), the world’s leading record label.
The offer values UMG at €30.40 per share, a 78% premium on its closing price of €17.10 on April 2. Ackman praised UMG’s management for “excellent work” in building the business and attracting new talent. The transaction could be finalised by the end of 2026.
Earlier, the Financial Times reported that Amazon is in talks to acquire satellite operator Globalstar, valued at nearly $9 billion. Sources suggest the move is aimed at competing with Elon Musk’s SpaceX Starlink network.
In a separate development, SpaceX and Tesla have announced plans to construct two high-tech chip manufacturing facilities in Austin. The “Terafab” project will produce advanced components for vehicles, robotics, and space AI systems.
