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      "text": "We are highly economically and reputationally motivated to consummate a transaction that creates value for PSTH shareholders; We remain disciplined on both business quality and valuation",
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      "text": "Pershing Square assumed PSTH’s obligations to Vivendi; Completed the purchase of UMG shares ahead of schedule; Preserved Pershing Square’s reputation; Pershing Square funds reimbursed PSTH for broken deal costs.",
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