Artisan (APAM) Opposes Vivendi's Plan to Sell UMG Stake to Ackman SPAC, Pershing Square Tontine (PSTH) - Bloomberg

June 10, 2021 11:35 AM EDT

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(Updated - June 10, 2021 11:43 AM EDT)

(Updated - June 10, 2021 11:36 AM EDT)

Artisan (NYSE: APAM) portfolio manager David Samra says selling off pieces of Universal Music Group to other investors in return for cash is a sub-optimal capital allocation decision, according to Bloomberg, citing a statement.

"We would prefer that Vivendi spin off its entire ownership of UMG to shareholders in a tax efficient manner," he said.

Pershing Square Tontine (NYSE: PSTH), a special purpose acquisition company, previously announced discussions with Vivendi to acquire 10% of the outstanding Ordinary Shares of Universal Music Group B.V..

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