Vivendi’s Universal Music to Sell 10 Percent Stake to Bill Ackman SPAC, Valuing Label at $40B
BY GEORG SZALAI | HollywoodReporter.Com Troy Warren for CNT The French media conglomerate finalized a deal to offload a 10 percent stake in the music major to a blank check company of Bill Ackman’s hedge fund Pershing Square. French media conglomerate Vivendi has finalized a deal to sell a 10 percent stake in Universal Music Group to a so-called “blank check” company set up by Bill Ackman’s hedge fund Pershing Square, valuing the music major at €35.0 billion ($40 billion). Vivendi had recently said it was in talks with the financial vehicle about selling it the stake in the label, home of the likes of Taylor…