Universal Music Group (UMG), the Amsterdam-listed music company known for representing artists such as Taylor Swift and Billie Eilish, has confidentially filed for a U.S. stock listing. This move is part of a deal with billionaire Bill Ackman's hedge fund Pershing Square. The filing involves submitting a draft registration statement with the U.S. Securities and Exchange Commission (SEC), marking a significant step toward a public offering on a U.S. exchange. Concurrently, the European Union has opened an in-depth investigation into UMG's $775 million Downtown deal, adding regulatory scrutiny amid the company's plans for expansion in the U.S. capital markets.