Trump backer offers $91.2 billion to buy Taylor Swift record label

Bill Ackman's Pershing Square offered nearly $64.3 billion to acquire Universal Music Group, the world's largest record label, on Tuesday. The proposal values the company at approximately €30.40 per share and plans to move its listing to New York. Universal's shares rose about 10 percent following the announcement amid a challenging market.

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Summary by Glance · Original reporting by Brisbane Times