Bill Ackman to Divest Remaining Shares in Universal Music
WHO:
Billboard - Bill Ackman is a hedge fund investor and the founder of Pershing Square Capital Management.
Bloomberg Markets - Universal Music Group NV is the company involved in the acquisition bid.
WHAT:
Music Business Worldwide - The Bolloré Group controls 28% of UMG via a direct stake in the music company plus its holding in Vivendi.
Music Business Worldwide - Pershing Square first acquired approximately 10% of UMG from Vivendi in the summer of 2021 for approximately $4 billion.
Music Business Worldwide - After distributing 47 million UMG shares in January 2025, Pershing Square held 140 million shares, or 7.6% of UMG.
Music Business Worldwide - Pershing Square sold around 50 million more shares for around $1.4 billion in March 2025.
Music Business Worldwide - With Pershing’s stake falling below 5%, Ackman resigned from UMG's board in May 2025, citing “new executive and board obligations arising from his recent investments.”
Billboard - UMG has purchased 14 million of Pershing Square’s shares for a total consideration of around $290 million.
Music Business Worldwide - Bill Ackman’s Pershing Square is reportedly set to sell around 80.6 million shares in Universal Music Group.
Music Business Worldwide - The divestment could raise around EUR €1.5 billion at its upper end.
Music Business Worldwide - Ackman's non-binding takeover proposal valued UMG at approximately €55.8 billion ($64.4 billion).
Billboard - Bill Ackman plans to sell his remaining shares in Universal Music Group.
Bloomberg Markets - Ackman's decision to exit his stake follows a rejected takeover bid for Universal Music Group.
WHERE:
Bloomberg Markets - Universal Music Group is listed in Amsterdam.
WHEN:
Billboard - The decision to divest comes less than a week after the rejection of the acquisition offer.
WHY:
Music Business Worldwide - UMG’s Board of Directors unanimously determined that Ackman's proposal was “not in the best interests of UMG, its shareholders, artists, songwriters, employees and other stakeholders” and “fundamentally and materially undervalues UMG and will not deliver superior value creation.”
Billboard - The board of Universal Music Group declined Ackman's acquisition offer, prompting his decision to sell.
HOW:
Music Business Worldwide - The plan would have merged UMG with Pershing Square SPARC Holdings, with the combined company incorporating in Nevada and shifting its primary listing from Euronext Amsterdam to the New York Stock Exchange.
Music Business Worldwide - Pershing Square is marketing its UMG shares via an overnight placing through Bank of America.
Bloomberg Markets - Ackman is looking to sell his stake in Universal Music Group through the divestment of shares.
(UPDATED June 4, 2026 21:27 UTC)
The Bolloré Group now controls 28% of Universal Music Group through a direct stake and its holding in Vivendi. Pershing Square, which first acquired about 10% of UMG from Vivendi in the summer of 2021 for around $4 billion, has seen its stake diminish significantly after selling approximately 50 million shares for about $1.4 billion in March 2025. Following a drop in their holdings below 5%, Ackman resigned from UMG's board in May 2025, citing new executive and board obligations from his recent investments.
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(UPDATED June 4, 2026 19:41 UTC)
Universal Music Group has acquired 14 million shares from Pershing Square for approximately $290 million. The deal was part of a plan to merge UMG with Pershing Square SPARC Holdings, which would have involved relocating the combined company’s primary listing from Euronext Amsterdam to the New York Stock Exchange. This strategic move aimed to enhance UMG's presence in the U.S. market.
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(UPDATED June 4, 2026 11:52 UTC)
Bill Ackman's Pershing Square is reportedly preparing to sell around 80.6 million shares in Universal Music Group, a move that could potentially raise up to €1.5 billion. The Board of Directors at UMG has unanimously rejected Ackman's non-binding takeover proposal, stating it undervalues the company and is not in the best interests of its stakeholders. To facilitate this divestment, Pershing Square is marketing its shares through an overnight placing with Bank of America.
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(UPDATED June 4, 2026 01:53 UTC)
Bill Ackman, a hedge fund investor and founder of Pershing Square Capital Management, plans to sell his remaining shares in Universal Music Group following a rejected takeover bid for the company. This decision comes less than a week after Universal Music Group's board declined Ackman's acquisition offer, which is listed in Amsterdam. Ackman is looking to divest his stake by selling shares in the company.