Trending Now - Universal Music Group Dismisses Ackman's $64 Billion Bid
WHO:
Inc - Bill Ackman is the founder of Pershing Square Capital.
Billboard - UMG's largest shareholder is Vincent Bollore.
Variety - The board of Universal Music Group (UMG) is involved in the decision-making process.
WHAT:
BBC - Bill Ackman's takeover bid for Universal Music Group was launched in April.
BBC - If successful, the bid would have resulted in UMG being listed as a new company in America, as it is currently listed on the Euronext Amsterdam stock exchange.
Inc - UMG's board rejected a $64 billion takeover offer from Bill Ackman.
Billboard - UMG's board stated that the offer "fundamentally undervalues UMG."
Variety - The board of UMG unanimously determined that the proposal was unsolicited and non-binding.
WHY:
Billboard - The board believes it has a "strong consensus" of investors supporting its decision to reject the offer.
Variety - The rejection followed criticism of the bid from Vincent Bollore, urging UMG to reject it.
HOW:
Inc - The board's decision was based on their assessment of the company's value in relation to the offer.
(UPDATED May 29, 2026 23:21 UTC)
Bill Ackman has launched a takeover bid for Universal Music Group, which began in April. If successful, this bid would lead to UMG being listed as a new company in America, moving away from its current listing on the Euronext Amsterdam stock exchange. The outcome of this bid could significantly alter the landscape of the music industry.
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(UPDATED May 29, 2026 21:33 UTC)
In a significant move, the board of Universal Music Group has unanimously rejected a $64 billion takeover offer from Bill Ackman, the founder of Pershing Square Capital. The board stated that the proposal "fundamentally undervalues UMG" and emphasized that it was unsolicited and non-binding, reflecting a strong consensus among investors in support of their decision. This rejection also came after criticism from UMG's largest shareholder, Vincent Bollore, who urged the board to turn down the bid.