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You are currently viewing Universal Music Group Files for U.S. Public Offering

The group behind Taylor Swift and Lady Gaga submitted a confidential proposal with the Securities and Exchange Commission.

Universal Music Group — the music titan behind popular artists like Taylor Swift and Drake — said on Monday that it had submitted a proposal for a public offering in the United States.

The company, which is based in the Netherlands, filed a confidential draft registration statement with the U.S. Securities and Exchange Commission, it said in a statement on Monday. It’s not clear yet how many shares it will offer, or for how much.

The offering is part of a deal Universal reached in January with Pershing Square, as described by Bill Ackman, the hedge fund’s founder and chief executive in January on social media. That agreement said Pershing could ask Universal Music to list in the United States if the hedge fund sells at least $500 million of its stock in the

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