Pershing Square Holdings Confirms Delisting from Euronext Amsterdam Following Ackman's Push
Pershing Square Holdings has announced its decision to delist from Euronext Amsterdam following CEO Bill Ackman's urgent request last month. The move comes in response to recent antisemitic attacks against Israeli soccer fans in Amsterdam, where five people were hospitalized and multiple arrests were made.
Bill Ackman speaking on stage
Photo Credit: Senate Democrats / CC by 2.0
The company, in which the Ackman family holds a 23% stake, will continue trading in dollars and pounds on the London Stock Exchange. Chairman Rupert Morley cited reduced regulatory complexity and improved liquidity as key benefits of this transition.
This decision has sparked discussions about Universal Music Group's (UMG) future on the Amsterdam exchange. While Ackman, whose Pershing Square owns 10.25% of UMG, has urged the music company to also delist, UMG has maintained its independence in this decision.
A UMG spokesperson clarified their position: "Pershing has the right to request a U.S. listing subject to selling at least $500 million in UMG shares as part of the listing. However, Pershing cannot require UMG to become U.S. domiciled or delist from Euronext Amsterdam."
UMG further stated that while they will honor contractual obligations regarding a potential U.S. listing process, any decisions will prioritize maximizing value for all shareholders.
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