All articles tagged with #pershing square
Universal Music Group rejected Pershing Square’s $64.3 billion takeover bid as undervalued and not in the best interests of shareholders, artists, fans and other stakeholders; the deal would have created a U.S.-listed company, while concerns over Bolloré Group’s 18% stake and a delayed NYSE listing helped block the bid.
Billionaire investor Bill Ackman says Pershing Square’s sale of Alphabet shares was not a bearish bet against Google, but a capital reallocation to finance a new MSFT stake. The move suggests Microsoft looked more attractive on price and timing, while Ackman remains bullish on Alphabet for the long term, signaling a relative-value shift rather than a negative view on Google.
Billionaire investor Bill Ackman said Pershing Square will disclose a new Microsoft stake in its upcoming 13F filing, calling the stock's valuation highly compelling amid M365 AI competition and Azure growth concerns.
Pershing Square Capital Management, led by Bill Ackman, disclosed taking a stake in Microsoft, citing a compelling valuation as the reason for the investment; the size of the stake wasn’t disclosed, but the move signals confidence in Microsoft’s long-term fundamentals.
Pershing Square disclosed it began accumulating Microsoft shares in February after a pullback post-earnings, buying at about 21x forward earnings and calling the position a core holding. Ackman argues sentiment over AI competition and Azure growth is overly pessimistic, highlighting Microsoft’s M365/Copilot moat and ongoing R&D as potential accelerators, and notes the move mirrors his prior bets on Alphabet, Amazon and Meta ahead of 13F filings.
Pershing Square's new closed-end fund will disclose a Microsoft stake, with Ackman calling the stock's valuation highly compelling and making Microsoft a core holding for the newly listed Pershing Square USA fund; this follows recent tech bets (Meta, Amazon, Alphabet) as AI competition intensifies, even as Microsoft shares have slipped about 15% this year.
Bill Ackman’s Pershing Square USA Ltd. opened on the NYSE after a $5 billion IPO and private placement, but the shares dropped about 18% from the $50 offer price to close at $40.90; the launch, meant to give retail investors Berkshire Hathaway-like, long-term exposure via a closed-end fund, drew skepticism over the structure’s discounts and the ability to sustain returns, despite Ackman’s public push and a large following.
Pershing Square raised $5 billion in a dual-listed NYSE IPO, creating Pershing Square USA Ltd. (PSUS) and Pershing Square Inc. (PS). PSUS is priced at $50 and the deal omits performance fees, offering investors exposure to either the underlying portfolio or the management business. Ackman aims to build a Berkshire Hathaway–style, permanent-capital platform, citing a long track record (over 2,600% since 2004) and a history of macro hedging, including a $2.6 billion gain from a 2020 credit-protection trade, with plans for investor events to engage shareholders.
Pershing Square USA and Pershing Square Inc. announced a combined initial public offering for PSUS and PSI. PSUS shares will be priced at $50, with investors receiving one PSI share for every five PSUS shares. The offering targets at least $5 billion in gross proceeds (including $2.8 billion from a concurrent private placement) and will list PSUS and PSI on the NYSE if completed. Net proceeds go to PSUS, not PSI, and completion depends on SEC review and market conditions. A large underwriter syndicate and preliminary prospectuses are in place.
Pershing Square’s Bill Ackman is bidding about $63.5–$64 billion to buy Universal Music Group, naming Michael Ovitz as chairman and keeping Lucian Grainge as CEO; the plan envisions a Berkshire Hathaway‑style entertainment conglomerate with an NYSE listing possibility, while the board reviews the proposal and Bolloré’s stake adds a wildcard to the deal.
Bill Ackman is in talks to launch a new stand-alone fund that would place asymmetric bets against prevailing market narratives, echoing the pandemic-era doomsday trades that generated huge windfalls for Pershing Square. The strategy would use derivatives and short-term US debt before deploying into large credit and macro bets, potentially via an Amsterdam-listed vehicle, while Ackman also pursues growth ahead of a public listing and broader conglomerate moves amid recent fund-performance headwinds.
Billionaire investor Bill Ackman argues the current market dislocation offers a rare entry point to buy high-quality companies, highlighting Fannie Mae and Freddie Mac as “stupidly cheap” bets and urging investors to ignore macro fears. He cites an asymmetric setup in select names as volatility persists and Pershing Square remains down YTD, with plans to list on the NYSE under ticker PS.
Bill Ackman is pursuing a dual IPO of Pershing Square Inc. and the Pershing Square USA fund on the NYSE, aiming to raise $5–$10 billion for the fund and list the management company; after a failed 2024 listing attempt, he has about $2.8 billion in institutional commitments, with the structure offering investors shares in the management company and testing public appetite for Ackman’s hedge-fund empire, potentially valuing the operation well above prior highs (well over $10 billion) if demand holds.
Pershing Square Holdings Ltd. filed an S-1 to convert into Pershing Square Inc. and pursue a U.S. initial public offering via a dual listing with Pershing Square USA (PSUS), aiming to raise $5–10 billion with about $2.8 billion already committed. PSUS shares would be priced at $50, and there would be a 20-for-100 distribution of Pershing Square Capital Management stock, with listings on the NYSE under PS and PSUS and underwriters including Citi, UBS, BofA Securities, Jefferies and Wells Fargo.
Hedge fund manager Bill Ackman’s Pershing Square filed to list on the NYSE with a dual listing for its common stock and PSUS, aiming to raise $5-10 billion for PSUS at $50 a share and a 20-for-100 exchange ratio, with about $2.8 billion already committed from a mix of family offices, pension funds and ultra‑high‑net-worth investors; the move would give public investors exposure to Ackman’s long‑term, Berkshire Hathaway‑inspired permanent‑capital platform.