Bill Ackman Eyes Amsterdam Exit for Business and Safety

 

Billionaire investor Bill Ackman has announced plans to withdraw his companies, Pershing Square Holdings and Universal Music Group (UMG), from Euronext Amsterdam. This decision follows violent attacks on Israeli soccer fans in Amsterdam last week, which highlighted safety concerns in the Dutch capital.

Ackman, CEO of Pershing Square Capital Management, shared his intentions on social media, stating that the move aligns with both moral and business principles. “Relocating to a jurisdiction that protects its tourists and minority populations is not only the right thing to do but also good business,” Ackman emphasized. He plans to seek board approval to delist from Amsterdam and consolidate trading on the London Stock Exchange (LSE).

The attacks occurred after a Europa League match between Israel’s Maccabi Tel Aviv and Dutch team Ajax. Several Israeli fans were injured in clashes, and over 60 arrests were made. Bill Ackman cited the incident as a tipping point for accelerating plans to leave Amsterdam.

Ackman highlighted that Pershing Square’s trading activity is predominantly based on the LSE. Shifting entirely to London would enhance liquidity and reduce costs for shareholders, he added.

The planned move also includes Universal Music Group, where Ackman serves as a board member. He argued that UMG’s primary listing on the Amsterdam exchange undervalues the company due to its ineligibility for inclusion in key indexes like the S&P 500. Ackman intends to advocate for a U.S. listing on the New York Stock Exchange (NYSE) or Nasdaq, which he believes will unlock greater value for UMG shareholders.

However, UMG has pushed back on Ackman’s claims. A company spokesperson clarified that Ackman’s Pershing Square does not hold unilateral authority to force UMG to relocate or delist from Amsterdam. While acknowledging contractual obligations, the spokesperson stressed that any decision regarding UMG’s listing will prioritize shareholder interests and maximize value.

Bill Ackman remains determined, expressing confidence that UMG will achieve a U.S. listing by next year. Despite the controversy, his plans have brought attention to the broader implications of safety and business considerations in global markets.

Ackman’s move reflects a growing trend among companies seeking more advantageous and secure listings in the face of geopolitical and operational challenges. Whether UMG’s leadership will align with Ackman’s vision remains uncertain, but the debate underscores the complexities of balancing moral imperatives with shareholder value.

The development also raises questions about Amsterdam’s ability to attract and retain international businesses amid rising concerns over public safety and governance.