Bill Ackman plans to pull his companies out of Amsterdam after antisemitic attacks

Billionaire hedge fund manager Bill Ackman wants Pershing Square Holdings and Universal Music Group out of Euronext Amsterdam following attacks this week on Israeli soccer fans in the Dutch capital.

“Concentrating the listing on one exchange, the (London Stock Exchange), and leaving a jurisdiction that fails to protect its tourists and minority populations combine both good business and moral principles,” Ackman wrote on X, formerly known as Twitter, where he has 1.5 million followers. He wrote that he would seek approval from the Pershing Square board for the move.

Israeli soccer fans were beaten and injured in violent clashes in Amsterdam following the Europa League soccer game Thursday night between Israel’s Maccabi Tel Aviv and Dutch side Ajax.

Amsterdam authorities said Friday morning that five injured Israeli soccer fans have since been released from the hospital, and 20 to 30 other people were lightly injured. In total, 63 individuals were arrested and 10 remain in custody, police said.

Ackman, CEO of Pershing Square Capital Management, said the move had been in consideration before the attacks as its trading is almost entirely represented in the London Stock Exchange. He wrote that Pershing Square will trade entirely on the LSE.

In the post, he said that moving Pershing Square would save money and improve liquidity for its shareholders.

The move for Universal Music Group, where Ackman is a board member, was also influenced by the attacks in Amsterdam. He wrote that Pershing Square has contractual rights to help move Universal Music Group from its Amsterdam headquarters and stock exchange.

Ackman said Universal Music trades at a large discount because its primary listing isn’t on the New York Stock Exchange or Nasdaq, and it’s ineligible for the S&P 500 and other indexes.

“We will exercise this right and achieve a US listing for UMG no later than some time next year,” Ackman posted on X.

Universal Music and Pershing Square Holdings did not immediately respond to CNN’s requests for comment.

Euronext told CNN in an email that it “doesn’t comment on specific listed companies.”