Bill Ackman cancels SPAC deal with Universal Music.

[ad_1] Billionaire investor Bill Ackman said on Monday, withdrew from a plan Using its massive SPAC to buy a stake in the world’s largest record label, Universal Music Group, after the Securities and Exchange Commission expressed concerns about the complex transaction. Under the proposed deal, Mr. Ackman’s special purpose buyout, or SPAC, would buy a …