Pershing Square Officially Exits Euronext Amsterdam — UMG Delisting Pressure Intensifies
Pershing Square Holdings has announced its decision to delist from Euronext Amsterdam, following CEO Bill Ackman's urgent recommendation to the board last month. The move comes in response to recent antisemitic attacks against Israeli soccer fans in Amsterdam.
The investment holding company, in which the Ackman family maintains a 23% stake, will continue trading in dollars and pounds on the London Stock Exchange. Chairman Rupert Morley emphasized that this transition would reduce regulatory complexity and enhance liquidity.
Bill Ackman speaking on stage
Photo Credit: Senate Democrats / CC by 2.0
This decision has sparked discussions about Universal Music Group (UMG), where Pershing Square holds a 10.25% stake. UMG, which listed on Euronext Amsterdam in 2021, has pushed back against Ackman's suggestion to delist.
A UMG spokesperson clarified the company's position:
- Pershing can request a U.S. listing only if it sells at least $500 million in UMG shares
- Pershing cannot force UMG to become U.S.-domiciled or delist from Euronext Amsterdam
- Any decisions beyond contractual obligations will prioritize maximizing value for all shareholders
The situation highlights growing tensions between major shareholders and exchange listings, with potential implications for future corporate governance decisions in the music industry.
Armed robbery of two men
Woman in chair at conference
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