Bill Ackman, one of Universal Music Group’s largest investors and founder of Pershing Square Holdings, is advocating for a significant shift: the relocation of Universal Music Group's listing from the Amsterdam stock exchange to the United States.
The impetus behind this proposal stems from recent anti-Semitic attacks on fans of an Israeli football club in Amsterdam, which led Ackman to conclude that the protection of minorities and tourists in that jurisdiction is insufficient. He believes that consolidating the listing on a single exchange, such as the London Stock Exchange, would enhance business opportunities and liquidity for shareholders, as well as reduce operational costs.
Already in talks with Universal Music Group’s leadership, Ackman aims to facilitate the company's registration and listing in the U.S., where he believes a more favorable environment for operation and growth awaits.
A UMG representative responded, clarifying that while Pershing can request a U.S. listing, it cannot unilaterally move UMG’s headquarters or delist it from Amsterdam without fulfilling specific conditions, including selling $500 million in UMG shares.
This situation has stirred significant discussion on corporate governance, with UMG emphasizing that any potential U.S. listing would prioritize value maximization and shareholder interests. Amsterdam Mayor Femke Halsema acknowledged the attacks, noting that the city’s riot police had intervened to protect Israeli fans amid escalating tensions.
