Ackman's Pershing Square Tontine (PSTH) nears transaction with Universal Music - WSJ

(Updated - June 3, 2021 5:51 PM EDT)

Bill Ackman's Pershing Square Tontine (NYSE: PSTH) SPAC is nearing transaction with Universal Music Group, the Wall Street Journal reported citing people familiar with the matter.

The deal would value Universal Music around $40 billion or $42 billion with debt, the report added.

It would be the largest SPAC deal to date.

The deal is not finalized and can still fall apart, it was added.

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