Ackman sees path to possible US listing for Universal, working on next deal

The billionaire investor (pic) who runs hedge fund Pershing Square Capital Management and who raised the biggest-ever special purpose acquisition company (SPAC) nearly a year ago, described UMG as an "incredibly iconic, super durable business," and said he hoped for a U.S. listing for the world's biggest music label in the future

NEW YORK: William Ackman, whose blank check acquisition company struck a deal to buy 10% of Universal Music Group (UMG) last week, is exploring options to increase his stake in the music label and already pushing ahead with his next deal, he told investors on Wednesday.

The billionaire investor who runs hedge fund Pershing Square Capital Management and who raised the biggest-ever special purpose acquisition company (SPAC) nearly a year ago, described UMG as an "incredibly iconic, super durable business," and said he hoped for a U.S. listing for the world's biggest music label in the future.