The Globe and Mail reports in its Wednesday edition that Bill Ackman's Pershing Square proposed a takeover of Universal Music Group on Tuesday in a $64-billion (U.S.) deal, the latest twist in his nearly five-year quest of the music label giant. A Reuters dispatch to The Globe says Pershing Square is proposing a cash-and-shares offer through its acquisition vehicle that values Universal Music at around 30.40 euros per share -- a 78-per-cent premium to the last closing price of 17.10 euros -- making the deal worth 55.75 billion euros. Universal Music is the company behind international superstars such as Taylor Swift, Billie Eilish and Kendrick Lamar. It is expected to move its listing to New York from Amsterdam, paving the way for more investors, including index funds, to own the company and ultimately lead to more robust earnings and a higher valuation. For Mr. Ackman, historically an activist investor, this is a far friendlier approach. Even as global music revenues grow year after year, Universal Music and other major labels such as Sony and Warner Music are scrambling to stay competitive as streaming services from Spotify, Amazon, Apple and Deezer take greater shares. UMG's share price is generally seen as lagging.