Pershing Square Holdings plans to sell a portion of its 7.6% stake in Universal Music Group (UMG) through a US stock exchange listing by September 15, 2025. The stake is currently valued at $3.48 billion.

UMG has committed to using "commercially reasonable efforts" to facilitate an underwritten offering for these shares. The company's Board of Directors will determine any actions beyond their contractual obligations, focusing on maximizing value for all shareholders.

This development follows Pershing Square chief Bill Ackman's November 2024 call for UMG to de-list from the Euronext Amsterdam exchange, where it has traded since separating from Vivendi in 2021. Ackman also requested UMG relocate its legal headquarters from the Netherlands to the United States.

Pershing Square itself recently received approval to de-list from the Euronext Amsterdam exchange, effective January 31, while maintaining its London exchange listing. UMG previously informed Pershing that while it could use its holdings for a US listing, it must sell at least $500 million in shares as part of the process.

Multiple exchange listings are common among public companies, offering broader investor access and protection against country-specific market fluctuations.

Note: Company stakeholders should monitor official announcements for specific details about the upcoming listing process and any regulatory requirements that may affect the timeline or implementation.

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