Hedge fund billionaire Bill Ackman has been a leading voice in confronting anti-semitic behavior around the world.
Following anti-Israel protests on college campuses after the October 7 Hamas terrorist attacks, Ackman called on Harvard to release all of the names of the students who are members of 31 anti-Semitic campus groups on campus to make sure these young Hamas supporters are never hired by a Wall Street firm.
Now, in the wake of the violent anti-Jewish pogrom carried out in the Netherlands that left at least 25 people injured after hundreds of Israeli soccer fans were targeted and attacked in Amsterdam, Ackman has called for Pershing Square Holdings to eliminate its listing on the Euronext Amsterdam exchange.
Berlin , 1939, as N×zis are chasing Jews and beating them
Sorry for the typo, this is Amsterdam , 2024.
pic.twitter.com/nMnxHkAVft
— Dr. Eli David (@DrEliDavid) November 8, 2024
Ackman wrote on X:
I am going to seek approval from the board of Pershing Square Holdings— in which I and my family own 23% of the shares—to eliminate its listing on the @euronext Amsterdam exchange.
The board had been considering the move because our second listing on the @LSEplc now represents more than 90% of our trading. Events in Amsterdam during the last 24 hours provide an appropriate tipping point for this conclusion.
Concentrating the listing on one exchange, the LSE, and leaving a jurisdiction that fails to protect its tourists and minority populations combine both good business and moral principles. We can also save money and improve liquidity for shareholders to boot.
I have also begun the conversation with @UMG(on whose board I sit) which is domiciled in Amsterdam as well as listed t here, about moving its domicile and its listing to the United States, which will offer similar as well as other highly material benefits.
Pershing Square has a contractual right to cause UMG to be listed in the US. We will exercise this right and achieve a US listing for UMG no later than some time next year.
UMG trades at a large discount to its intrinsic value with limited liquidity in significant part due to it not having its primary listing on the @NYSE or @NasdaqExchange and not being eligible for S&P 500 and other index inclusion.
We are going to fix this. Now is a good and appropriate time to do so.
I am going to seek approval from the board of Pershing Square Holdings— in which I and my family own 23% of the shares—to eliminate its listing on the @euronext Amsterdam exchange.
The board had been considering the move because our second listing on the @LSEplc now represents…
— Bill Ackman (@BillAckman) November 8, 2024
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