Universal Music Group Shuts Down Bill Ackman's Request To Delist From Amsterdam Stock Exchange

Core Viewpoint - Universal Music Group (UMG) opposed billionaire Bill Ackman's request to delist from Amsterdam's stock exchange, citing that Ackman's hedge fund lacks the right to make such a request following recent antisemitic attacks in the city [1][2]. Group 1: Company Position - UMG acknowledged Ackman's request but clarified that neither the company nor its board members were involved in the decision to seek a U.S. listing and delist from Euronext's Amsterdam exchange [2]. - UMG stated it would "endeavor in good faith" to comply with its contractual obligations regarding a potential U.S. listing, which would depend on an analysis of the best interests of its shareholders [4]. Group 2: Ackman's Position - Ackman claimed that his hedge fund, Pershing Square Holdings, has a "contractual right" to have UMG listed in the U.S. and intends to exercise this right by next year [3]. - He emphasized that moving UMG's listing to the U.S. would provide "highly material benefits" for the record label, although specific benefits were not detailed [3]. Group 3: Context of Antisemitic Attacks - The request from Ackman followed violent antisemitic attacks in Amsterdam, where fans of the Israeli soccer club Maccabi Tel Aviv were attacked after a match, leading to 62 arrests and five hospitalizations [7]. - Ackman has been vocal against antisemitism, criticizing various universities for their handling of related issues, which he believes have escalated recently [7].