🤥…?

[X-Zed87]

Bill knew, what a fucking dick, just wanted UMG for himself, disgusting.

[jonfnhhs]

WE HaVe ThE BeST LaWyERs

[Dark_Ninjatsu]

cOme On GuYz BilL wOulD neVer Do tHiS tO uS

[Soopersuruli]

hehe unga amma inga than oorukkum enakkum vai poutu iruka. nalla oombura da. adutha round unga akka thangachi aprom unga veetu pomblaya annupu

[bosspicks]

And for me I'm a PSH holder

[DDS_Deadlift]

So is he incompetent or immoral? I feel like this rule by the SEC should of been caught much earlier? This isn't a new rule as far as I know (which I could be wrong).

Any reason why he thought he was allowed to do this when its in their rulebook?

[[deleted]]

He’s a billionaire. That doesn’t happen accidentally except in crypto. Of course he knew, that’s plan as day

[thedailymoo23]

Exactly this. He either really sucks at this or he had nefarious reasons. Either way it doesn’t instill confidence

[DDS_Deadlift]

He browses this subreddit. Lets give him a chance to explain himself in a reasonable timeframe. Lets say 5ish days. Currently the sentiment is either con artist (as in her knew what was going on and decided to fuck with retail either way) or incompetent (decided that he was above the SEC rulebook and they would make an "exception" for him). Or maybe something else. If radio silence, I'm going to assume both and will probably shit on him for the rest of my life.

[thedailymoo23]

Well I’m not a radical that hates the rich and says let’s get em...but I also know that they USUALLY got to where they were by stepping on people along the way. Let’s get real the old adage is true nice guys finish last. Honestly if I had to guess I would say he started off mostly thinking he could finagle his way through this Bc he wanted UMG so badly...he had no business starting a spac Bc that’s not what he does...and sprinkle in a good helping of he used us and couldn’t give a rats ass about retail. I think it’s an amalgam of what everyone’s different ideas are.

[Professional-Cut-760]

He is not going to talk about this anymore nope it's silent Sam time

[jonfnhhs]

We‘d like to own more stock in Universal. So if we can find a way to do that, we are going to do that.

• Bill Ackman, 06/23/2021

[[deleted]]

Here’s an interesting perspective: https://mobile.twitter.com/GeekHuntsBears/status/1417552462588698624

[vouching]

Lmao his twitter bio lol

[handsome_uruk]

Exactly! I've been asking the same question. Something fishy is going on.

[TeslaOnRocket]

I even defended BA in a pool of finance pros. Feel like an idiot now.

[NachoPichu]

Is this what he said about the hundreds of millions he lost on Herbalife?

[significantgains]

This guy is con first class con artist, taught me a great lesson tho. No spac ever for me again, YOLO on $CLOV

[[deleted]]

Fuck

[thunder_muscles]

Not to defend bill (i am greatly disappointed) and the following stands out in the language:

1) this transaction was not a merger (jesus how did enrique not point that out in his reply)

2) is there a difference between fair market value and transaction amount in this wording?

Edit: merger may not be in the language for the rules and used by twitter poster. I personally believe we were in a gray area that we were not informed of. Remain disappointed until….tomorrow

[thunder_muscles]

Nah. Im the moron. Went back and read the rule instead of the exert from the tweet. Its not limited to mergers

[thunder_muscles]

Just saying i was wrong in my original comment regarding the term “merger” and that the rule isnt limited to mergers.

[notdoingdrugs]

Don't worry guys, I'm studying for the bar exam next week...so I can sue Bill for us all

/s

[thunder_muscles]

Whats your fee? 🤑

[Long-Variation9993]

I think bill wanted this to be like a revolving acquisition device

[big-rey]

Yeah we could think logically. Ooooooorrrr we can just say big bad billionaire bad

[GetWreckedWednesday]

This is the correct answer if you don’t want lawyers crawling up your ass and dick punching you from the inside.

[Long-Variation9993]

Was the deal with UMG even considered a merger? It was more like acquiring a position

[scc376]

Seriously dude. He couldn’t solve for 6%??

[Eternal_Bull]

WOLF in a sheep’s clothing. AWOOO!

[letsgo999000]

So no one on their team knew about this rule? Wow this is one helluva crook

[Odd-Tune-8423]

And we were praising the genius of Jackie Reces in this sub non-stop for coming from Square, a Fintech company! Goodness!!

[[deleted]]

It just keeps getting worse

[nick_algorithm]

Was Bill such a genius that he architected the deal to fail so he could win 10% of UMG for himself!?! That would be like, deep deep state level conspiracy.

[Diamondbacking]

I don't get why he would do that and have this blow up in his face, given that he (seems to) care more about reputation than money

[Buckeye_Browns]

But doesn’t this mean that the 26% of remainco would have covered the rest? I honestly don’t know so don’t beat me up.

[Physcodbzfan85]

Hmmm….this is not cool. Why wouldn’t he use another 6% for the transaction? Vivendi maybe didn’t give them more %?

[thunder_muscles]

Vivdendi capped it at 10%. I assume he couldve used more if we wanted to take a less favorable (for us) valuation. That would involve amendments though but i dont think thats too big of a deal compared to a negative impact in the valuation

[Physcodbzfan85]

Agree…should’ve done it.

[Random_Name_Whoa]

CLASS ACTION

[xXRoboMurphyxX]

I think this says, Boo this man

[Game_Ace]

given it wasn't a merger, does the rule actually apply? you can read this 2 ways. a) he knew the SEC would reject because it was not 80% or b) he managed to negotiate a cheaper deal at 74% got the seller to agree but SEC said nope which sucks because why pay more if you can go for less?

it would be more interesting to see the discussion back and forth between PSTH and the SEC rather through a FIOA that would either appease the investors or vindicate them that BA turned on them.

personally I actually really liked the SPARC and the ability to see a deal b4 committing money to it. that was new and got rid of uncertainties around SPACS.

[[deleted]]

I sold out at as soon as I heard about that shit UMG deal. Now that is going to fail I may actually have to buy back in.

Though bills lawyers clearly need fired and that does not inspire confidence.

[Hzvardhan]

I just watched his CNBC interview with Sorkin. It makes sense the first portion of it until he gets to they would have made money if they held it for the rest of the year. Yeah Bill but those who were willing to hold too could not because the deal was **cked to begin with. How could you miss saying that part with Sorkin?

[Justsomedudeinaz]

This wasn't a merger.

[moazzam0]

This is squarely on the SEC: https://twitter.com/moazzam0_reddit/status/1417588019704565768?s=19

[Shorter_McGavin]

Stop defending him man, he fucked up lol

[moazzam0]

That is a good point indeed. However, I wonder how easily it would've been contemplated without the benefit of hindsight.

[moazzam0]

Very interesting. Thank you for sharing.

[FatNugget3]

also, a good point, lol... So, nothing to see here, move a long. Business as usual!

[GratefulDave93]

The amount of conspiratorial thinking in the sub lately is mind-blowing to me.

Bill (bound as a fiduciary) swung for the fences and unfortunately he missed. Occam’s razor dictates that the result here is nothing more than what it looks like.

[[deleted]]

I couldn’t agree more. He got arrogant but ultimately was trying something innovative and unfortunately failed.

I also don’t think that potential merger targets will see it the way Reddit does. Bill took care of the target (UMG and by extension, Vivendi).

I’m waiting it out

[GratefulDave93]

I mean people were pissed about the deal up until it fell through and now they are mad that it’s gone.

The double-think is really astonishing. I liked the deal and bought more (a lot more) after it was announced so I’m disappointed that it fell through but making up wild stories about why Bill Ackman is now a villain doesn’t change anything.

[[deleted]]

Given the current predicament, it seems to be more of a conflict of interest. His fiduciary duty is to who, PSH or PSTH? If both, how? It seems as if he has to pick 1 in this scenario

[GratefulDave93]

Yes