Latest news with #USlisting
Yahoo
a day ago
- Business
- Yahoo
Universal Music Group Files Confidentially for US Listing
(Bloomberg) -- Universal Music Group NV has filed confidentially for a US listing, which would fulfill the terms of a deal with billionaire Bill Ackman's hedge fund Pershing Square. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital The Amsterdam-listed firm submitted documents to the US Securities & Exchange Commission relating to a proposed offering by certain of its shareholders, according to a statement Monday. The world's largest music company won't receive any proceeds from the sale. Universal Music's shares rose 0.9% to €27.31 apiece at 9:51 a.m. in European trading on Tuesday, leading gains in Amsterdam's AEX Index. The filing comes after Universal said in January it would plan the US listing in order to satisfy an agreement with Pershing Square, a statement at the time showed. Ackman resigned from Universal's board in May, citing increasing demands on his time from commitments including his appointment as Executive Chairman of Howard Hughes Holdings Inc. Universal Music, which is the label for artists including Taylor Swift, had in recent months resisted Ackman's push to move its domicile and delist it from Euronext Amsterdam. Pershing Square had urged Universal Music to pursue a US listing, saying it would substantially increase the valuation of the shares. A group of shareholders affiliated with Pershing Square in March raised more than €1.3 billion ($1.5 billion) from the sale of about a 2.7% stake in the Hilversum, Netherlands-headquartered firm, Bloomberg News reported. --With assistance from Sarah Jacob. (Updates with share move in third paragraph.) Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All What the Tough Job Market for New College Grads Says About the Economy ©2025 Bloomberg L.P.
Yahoo
2 days ago
- Business
- Yahoo
Universal Music Group Files Confidentially for US Listing
(Bloomberg) -- Universal Music Group NV has filed confidentially for a US listing, which would fulfill the terms of a deal with billionaire Bill Ackman's hedge fund Pershing Square. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Milan Corruption Probe Casts Shadow Over Property Boom Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom How San Jose's Mayor Is Working to Build an AI Capital The Amsterdam-listed firm submitted documents to the US Securities & Exchange Commission relating to a proposed offering by certain of its shareholders, according to a statement Monday. The world's largest music company won't receive any proceeds from the sale. The filing comes after Universal said in January it would plan the US listing in order to satisfy an agreement with Pershing Square, a statement at the time showed. Ackman resigned from Universal's board in May, citing increasing demands on his time from commitments including his appointment as Executive Chairman of Howard Hughes Holdings Inc. Universal Music, which is the label for artists including Taylor Swift, had in recent months resisted Ackman's push to move its domicile and delist it from Euronext Amsterdam. Pershing Square had urged Universal Music to pursue a US listing, saying it would substantially increase the valuation of the shares. A group of shareholders affiliated with Pershing Square in March raised more than €1.3 billion ($1.5 billion) from the sale of about a 2.7% stake in the Hilversum, Netherlands-headquartered firm, Bloomberg News reported. Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All What the Tough Job Market for New College Grads Says About the Economy ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
Universal Music confidentially files for US listing
July 21 (Reuters) - Universal Music Group, the world's biggest music label, disclosed on Monday that it had confidentially filed for a U.S. listing. Universal Music, whose primary listing is in the Netherlands, did not reveal the size of the U.S. offering or how much it was planning to raise. The company was valued at about 49.65 billion euros ($58.05 billion) based on its Monday closing price on the Dutch exchange, according to LSEG data. The stock is up about 10% this year. Billionaire Bill Ackman-led Pershing Square, one of the major stockholders in Universal Music, had previously pushed the company to list its shares in the United States. The Netherlands-based company's roster of stars includes Taylor Swift, Billie Eilish, Drake, The Weeknd, Ariana Grande, and Harry Styles, according to its website. Companies are lining up to list their shares in the U.S. to take advantage of a strong rebound in the country's equity markets following a brief lull due to uncertainty surrounding President Donald Trump's tariff policies. Confidential filings allow companies to keep financial and strategic information private while engaging with regulators and assessing investor appetite ahead of public disclosure. ($1 = 0.8554 euros)
Yahoo
02-07-2025
- Business
- Yahoo
Trending tickers: AstraZeneca, Constellation Brands, Ford, Santander and Greggs
The CEO of AstraZeneca (AZN.L), which is the UK's most valuable public company, would like to move the pharmaceutical giant's stock market listing to the US, The Times reported on Tuesday. Pascal Soriot has even discussed moving AstraZeneca's domicile, according to the report, which cited multiple sources. However, the sources reportedly said that Soriot was likely to face resistance from some of the board if he looked to make such a move, along with the UK government. A spokesperson for AstraZeneca declined to comment when contacted by Yahoo Finance UK. Read more: FTSE 100 LIVE: Stocks rise as Trump threatens to impose up to 35% tariff on Japan The reports come as a number of UK-listed companies have decided to switch their primary listings to the US in recent years. Michael Healy, UK managing director at IG, said: "Another week, another potential hammer blow to the UK stock market. Rumours that AstraZeneca could be eyeing a US listing show just how serious the situation has become. "We're in dangerous waters — London risks becoming a global backwater unless something changes fast. This isn't just about one company; it's about the UK's ability to attract capital, support innovation, and get people excited about investing again." Shares in AstraZeneca were little changed on Wednesday morning and are down less than 1% year-to-date. Shares in Corona beer-maker Constellation Brands dipped 1.5% in pre-market trading on Wednesday morning, after the company missed quarterly earnings estimates. In results released after the bell on Tuesday, Constellation posted net sales of $2.52bn for the first quarter, which was below average analyst estimates of $2.55bn, according to LSEG-compiled data reported by Reuters. Read more: Stocks that are trending today The company also reported comparable profit of $3.22 per share for the period, missing expectations of $3.31. Bill Newlands, CEO of Constellation Brands, said that the company "continued to face softer consumer demand largely driven by what we believe to be non-structural socioeconomic factors". In addition, Constellation highlighted that its operating margin for its beer business had fallen in the first quarter to 39.1%, primarily due to an increase in the cost of goods sold, including from aluminium tariffs. US president announced last month plans to double tariffs on steel and aluminium from 25% to 50%. Shares in Ford closed Tuesday's session up 4.6%, after the carmaker reported an increase in second quarter sales. Ford said sales rose 14.2% in Q2 and that its market share has expanded 1.8% percentage points to an estimated 14.3% compared to the first quarter. Read more: Were you a winner in the July 2025 premium bonds draw? The company said it had seen strength in truck, hybrid and SUV, with its F-series trucks posting the best second quarter since 2019. Andrew Frick, president, Ford Blue and Model e, and interim head of Ford Pro, said: "We blew the doors off the overall industry with our second-quarter sales." "Customers continue appreciating our broad powertrain choices — gas, hybrid, electric, and diesel — digital productivity tools that save time and money, and our Ford Motor Company: From America, For America commitment." Shares in UK-listed Spanish bank Santander (BNC.L) popped 3% on Wednesday after it announced plans to acquire TSB from Sabadell ( for £2.65bn. Santander said that the acquisition would strengthen its position in the UK and by integrating TSB into the bank's UK business, it said this would enable it to become the third largest bank in the country. Read more: 'Too soon' to see price effects from tariffs, says Bank of England's Bailey In addition, Santander said that the transaction is expected to generate a return on invested capital of over 20% and would see cost synergies of at least £400m. Santander said that the deal would not affect its distribution targets for 2025, and that it remained on track to deliver at least €10bn in share buybacks from 2025 and 2026 earnings. The bank said the deal was subject to regulatory and Sabadell shareholder approvals, but expected it to complete in the first quarter of 2026. Shares in Greggs (GRG.L) tumbled more than 13% on Wednesday morning, after the UK bakery chain warned that it expected first half operating profit to be lower than last year. In a trading update, published on Wednesday, Greggs said like-for-like sales in company-managed shops were up 2.6% in the first half of 2025. The company said that while the previously reported improved sales performance continued through the rest of May, sales in June were impacted by hot weather in the UK, which increased demand for cold drinks but reduced overall footfall. Stocks: Create your watchlist and portfolio Greggs said it would publish its half-year figures on 29 July but said it expected operating profit for the period to be lower versus last year. In addition, it expected that full-year operating profit could be "modestly below what achieved in 2024". Derren Nathan, head of equity research at Hargreaves Lansdown, said: "Sausage rolls may not be the first thing consumers yearn for when temperatures get into the 30s and that's been the case for Greggs. While cold drink sales were up in June, when customers flake in the heat, flaky bakes aren't first choice on the menu and footfall declined for the month." Read more: What to watch this week: UK shop prices, US employment, Constellation Brands, M&S and Sainsbury's Global economy to slow amid 'most severe trade war since 1930s', says Fitch UK economy grew 0.7% in first quarter of the year
The Independent
02-07-2025
- Business
- The Independent
What AstraZeneca could cost London's stock market if it moves to US
AstraZeneca 's CEO, Pascal Soriot, has reportedly held private discussions about moving the pharmaceutical firm's stock market listing from London to the US. The potential move is primarily driven by the CEO's long-standing frustrations with UK regulations, including restrictions on new medicines and pricing structures. Such a shift would represent a significant blow to the London Stock Exchange, as AstraZeneca is currently its largest listed company with a market capitalisation exceeding £161bn. The US is AstraZeneca's largest revenue source, contributing $21.8bn (£15.3bn) of its $54bn (£39bn) total revenue in 2024, highlighting the market's importance to its growth strategy. The company previously abandoned plans for a £450m vaccine hub near Liverpool, citing 'timing' and a funding gap, amid ongoing discussions with the UK government regarding pharmaceutical industry support.
