Universal Music set for takeover by Bill Ackman’s Pershing Square
Activist investor Pershing Square said Tuesday it is planning to buy Universal Music Group in a cash and stock deal worth about 55.8 billion euros ($64.4 billion). Under the terms of the proposal, shareholders would receive a total of 9.4 billion euros ($10.85 billion) in cash and 0.77 shares of new stock for each share…