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Ackman-Led SPAC Scraps $4B UMG Deal Amid SEC Pushback

By Emma Whitford (July 19, 2021, 9:31 AM EDT) -- Billionaire Bill Ackman's complex $4 billion SPAC agreement to buy a minority stake in music giant Universal Music Group will not proceed in light of skepticism from the U.S. Securities and Exchange Commission, the hedge fund manager said Monday....

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