Pershing Square Sells Roughly $1.5 Billion in UMG Shares Ahead of US Secondary Listing

Photo Credit: Pershing Square’s Bill Ackman, Senate Democrats / CC by 2.0
Bill Ackman’s Pershing Square has raked in roughly $1.5 billion in the sale of a 2.7% stake in Universal Music Group ahead of a US secondary listing.
Ackman announced the sale on social media, while Bloomberg reported “an offering of about 50 million Universal Music shares at €26.60 each,” citing a source close to the deal.
“We decided to sell a portion of our UMG position today,” w