{"id":127619,"date":"2021-06-04T14:45:25","date_gmt":"2021-06-04T14:45:25","guid":{"rendered":"https:\/\/precoinnews.com\/?p=127619"},"modified":"2021-06-04T14:45:25","modified_gmt":"2021-06-04T14:45:25","slug":"stock-alert-pershing-square-tontine-holdings-down-9","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/stock-alert-pershing-square-tontine-holdings-down-9\/","title":{"rendered":"Stock Alert: Pershing Square Tontine Holdings Down 9%"},"content":{"rendered":"
Shares of Pershing Square Tontine Holdings, Ltd. (PSTH) slipped nearly 9% on Friday morning after the special purpose acquisition company revealed that it has entered discussions with Vivendi S.E. to buy 10% stake in Universal Music Group B.V. for about $4 billion.<\/p>\n
PSTH is currently trading at $22.87, down $2.18 or 8.70%, on the Nasdaq. For the 52-week period, the stock has traded between $21.50 to $34.10.<\/p>\n
Pershing Square plans to distribute the acquired Universal Music Group’s shares to its shareholders later this year, after Vivendi completes its previously announced listing of UMG on Euronext Amsterdam. <\/p>\n