April 7 (Reuters) – Bill Ackman’s Pershing Square said on Tuesday it proposed to buy Universal Music Group in a cash-and-stock deal worth about 55.75 billion euros ($64.31 billion).
The deal value is based on Reuters calculations.
Pershing Square said its offer estimates Universal Music at about 30.4 euros per share.
Universal Music’s shares last closed at 17.1 euros.
($1 = 0.8674 euros)
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Sonia Cheema)
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