{"id":124320,"date":"2024-11-10T18:54:24","date_gmt":"2024-11-10T11:54:24","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=124320"},"modified":"2024-11-10T18:54:24","modified_gmt":"2024-11-10T11:54:24","slug":"umg-denies-bill-ackmans-request-to-delist-from-amsterdam-exchange","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=124320","title":{"rendered":"UMG Denies Bill Ackman\u2019s Request To Delist From Amsterdam Exchange"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<h2 class=\"topline-heading\">Topline<\/h2>\n<p>Universal Music Group opposed a request from billionaire Bill Ackman to delist from Amsterdam\u2019s stock exchange, saying Ackman\u2019s hedge fund has no right to ask the record label to do so after Ackman cited a series of antisemitic attacks in the Dutch city as a \u201ctipping point\u201d earlier this week.<\/p>\n<figure class=\"embed-base image-embed embed-0\" role=\"presentation\"><figcaption><fbs-accordion class=\"expandable\" current=\"-1\"><\/p>\n<p class=\"color-body light-text\">The hedge fund billionaire requested the company&#8217;s listing be dropped following a series of <span class=\"plus\" data-ga-track=\"caption expand\">&#8230; [+]<\/span><span class=\"expanded-caption\"> antisemitic attacks in the city.<\/span><\/p>\n<p><\/fbs-accordion><small>Patrick McMullan via Getty Images<\/small><\/figcaption><\/figure>\n<h2>Key Facts<\/h2>\n<div class=\"key-facts\">\n<div class=\"key-facts-element\">\n<p>UMG\u2014whose board Ackman sits on\u2014said in a <a href=\"https:\/\/www.prnewswire.co.uk\/news-releases\/statement-from-universal-music-group-nv-302300565.html\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" class=\"color-link\" title=\"https:\/\/www.prnewswire.co.uk\/news-releases\/statement-from-universal-music-group-nv-302300565.html\" data-ga-track=\"ExternalLink:https:\/\/www.prnewswire.co.uk\/news-releases\/statement-from-universal-music-group-nv-302300565.html\" aria-label=\"statement\">statement<\/a> Saturday the company had \u201ctaken note\u201d of Ackman\u2019s request, saying neither the record label nor any of its other board members were \u201cinvolved in the formulation\u201d of Ackman asking the company to become domiciled in the U.S. and delist from Euronext\u2019s Amsterdam exchange.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>On Friday, Ackman <a href=\"https:\/\/x.com\/BillAckman\/status\/1854890043548352932?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" class=\"color-link\" title=\"https:\/\/x.com\/BillAckman\/status\/1854890043548352932?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\" data-ga-track=\"ExternalLink:https:\/\/x.com\/BillAckman\/status\/1854890043548352932?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\" aria-label=\"said\">said<\/a> his hedge fund Pershing Square Holdings had a \u201ccontractual right\u201d to have UMG listed in the U.S., saying the company would \u201cexercise this right\u201d and have a listing for UMG \u201cno later than some time next year.\u201d<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Moving UMG\u2019s listing from Amsterdam to the U.S. would offer \u201chighly material benefits\u201d for the record label, Ackman said, though he did not specify.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Pershing Square can request UMG be listed in the U.S. as long as a Pershing Square entity sells at least $500 million worth of UMG shares as part of the listing, UMG said.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>UMG added it would \u201cendeavor in good faith\u201d to comply with its contractual obligations, though the process of a U.S. listing would be based on analysis that considers \u201cthe best interests\u201d of the company\u2019s shareholders.<\/p>\n<\/p><\/div>\n<\/div>\n<p><strong><em>Get Forbes Breaking News Text Alerts: <\/em><\/strong><em>We\u2019re launching text message alerts so you&#8217;ll always know the biggest stories shaping the day\u2019s headlines. Text \u201cAlerts\u201d to (201) 335-0739 or sign up <\/em><a href=\"https:\/\/joinsubtext.com\/forbes\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" class=\"color-link\" title=\"https:\/\/joinsubtext.com\/forbes\" data-ga-track=\"ExternalLink:https:\/\/joinsubtext.com\/forbes\" aria-label=\"here\"><em data-ga-track=\"ExternalLink:https:\/\/joinsubtext.com\/forbes\">here<\/em><\/a><em>.<\/em><\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Forbes Valuation<\/h2>\n<p>Ackman\u2019s fortune is valued at $9 billion, <a href=\"https:\/\/www.forbes.com\/profile\/william-ackman\/\" target=\"_self\" class=\"color-link\" title=\"https:\/\/www.forbes.com\/profile\/william-ackman\/\" data-ga-track=\"InternalLink:https:\/\/www.forbes.com\/profile\/william-ackman\/\" aria-label=\"according\" rel=\"noopener\">according<\/a> to our latest estimates, making him the 307th-richest person in the world. Ackman founded Pershing Square in 2004 and serves as the hedge fund\u2019s chief executive while holding stakes in several companies, including Chipotle, Hilton and Google parent Alphabet.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Key Background<\/h2>\n<p>Fans of the Israeli soccer club Maccabi Tel Aviv were \u201cambushed and brutally attacked\u201d Thursday night as a mob chanted \u201canti-Israel slogans\u201d after the team\u2019s match against the Dutch club Ajax, <a href=\"https:\/\/x.com\/IsraelinNL\/status\/1854773621249786333\" rel=\"nofollow noopener noreferrer\" target=\"_blank\" class=\"color-link\" title=\"https:\/\/x.com\/IsraelinNL\/status\/1854773621249786333\" data-ga-track=\"ExternalLink:https:\/\/x.com\/IsraelinNL\/status\/1854773621249786333\" aria-label=\"according\">according<\/a> to the Israeli Embassy in the Netherlands. The embassy compared the attacks to Kristallnacht, when Nazi Germany launched an assault on the country\u2019s Jewish population. Amsterdam police said 62 people were arrested and five people were hospitalized after the attack, and officials were investigating reports of a possible hostage situation and missing persons. Ackman subsequently announced he would seek approval from Pershing Square\u2019s board to drop its listing on Amsterdam\u2019s exchange, saying the attacks provided \u201can appropriate tipping point for this conclusion.\u201d Over the last year, Ackman became a prominent critic of antisemitism after a series of pro-Palestinian protests on college campuses. Last year, Ackman criticized Harvard University, his alma mater where he had been a major donor, saying antisemitism had \u201cexploded\u201d at the school. He later offered similar criticism to other universities, including the Massachusetts Institute of Technology and the University of Pennsylvania.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"\/><\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Further Reading<\/h2>\n<p><a class=\"embed-base color-body color-body-border link-embed embed-2 link-embed--long-title\" href=\"https:\/\/www.forbes.com\/sites\/tylerroush\/2024\/11\/08\/bill-ackman-wants-firms-listing-on-amsterdam-stock-exchange-dropped-after-antisemitic-attacks\/\" target=\"_blank\" aria-label=\"Bill Ackman Wants Firm\u2019s Listing On Amsterdam Stock Exchange Dropped After Antisemitic Attacks\" rel=\"noopener noreferrer\" data-ga-track=\"forbesEmbedly:https:\/\/www.forbes.com\/sites\/tylerroush\/2024\/11\/08\/bill-ackman-wants-firms-listing-on-amsterdam-stock-exchange-dropped-after-antisemitic-attacks\/\"><span class=\"link-embed__info\"><span class=\"link-embed__provider\">Forbes<\/span><span class=\"link-embed__title\">Bill Ackman Wants Firm\u2019s Listing On Amsterdam Stock Exchange Dropped After Antisemitic Attacks<\/span><small class=\"link-embed__byline\">By <span class=\"link-embed__author\">Ty Roush<\/span><\/small><\/span><span class=\"link-embed__thumbnail-wrapper\"><span class=\"link-embed__thumbnail allow-inline-style\" style=\"background-image: url(https:\/\/specials-images.forbesimg.com\/imageserve\/672e344b9dc2c92927c86a1f\/960x0.jpg?cropX1=0&amp;cropX2=3500&amp;cropY1=0&amp;cropY2=1967);\"\/><\/span><\/a>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.forbes.com\/sites\/tylerroush\/2024\/11\/09\/universal-music-group-shuts-down-bill-ackmans-request-to-delist-from-amsterdam-stock-exchange\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Topline Universal Music Group opposed a request from billionaire Bill Ackman to delist from Amsterdam\u2019s stock exchange, saying Ackman\u2019s hedge fund has no right to ask the record label to &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=124320\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-124320","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/124320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124320"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/124320\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}