Major Shareholder Bolloré Urges Universal Music Group to Reject Ackman's $64B Bid
Cyrille Bolloré, CEO of Bolloré Group, publicly urged Universal Music Group (UMG) to reject Bill Ackman's $64-65 billion unsolicited takeover bid, calling the offer undervalued and criticizing Ackman for using UMG's own cash. The Bolloré family controls roughly 27-31% of UMG, enough to block the deal, which requires two-thirds shareholder approval. Ackman had acknowledged the bid's dependence on Bolloré support. The proposal included moving UMG's listing from Amsterdam to New York.
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Billionaire Bill Ackman's Pershing Square Exits Universal Music After Failed Takeover Bids, Stock Slumps 7%
Bill Ackman's Pershing Square has sold its entire stake in Universal Music Group (UMG) following two failed takeover attempts, causing UMG shares to drop 7% as the takeover premium was removed. The exit netted Pershing Square a $600 million profit on a $1.5 billion-plus position, though the activist campaign fell short of its strategic goal of a sale or breakup. UMG repurchased over 14 million shares for roughly $290 million to facilitate the exit. The article also highlights Pershing Square's ongoing $1.7 billion bet on Howard Hughes Holdings, which is being transformed into a Berkshire-style holding company.
Yahoo FinanceBill Ackman Walks Away From Universal Music After Takeover Defeat
Bill Ackman's Pershing Square Capital Management has fully liquidated its remaining 4.7% stake in Universal Music Group (UMG) after the company's board, backed by the controlling Bolloré family, rejected his €56 billion privatization bid. The block trade of 80.6 million shares was executed at €17.66 per share, an 8% discount, causing UMG shares to drop over 7% on the Euronext Amsterdam exchange. UMG stepped in to repurchase €250 million worth of shares from the sale to cushion the impact. Ackman had proposed a cash-and-stock tender offer at €30.40 per share, aiming to merge UMG with his SPARC Holdings and move its listing to the NYSE. The Bolloré family, which controls 18.5% of equity and nearly 40% of voting rights, dismissed the offer as inadequate. This ends Ackman's five-year activist campaign to overhaul the music giant.
Yahoo FinanceBill Ackman Walks Away From Universal Music After Takeover Defeat
Bill Ackman's Pershing Square Capital Management has fully exited its 4.7% stake in Universal Music Group (UMG) after a five-year activist campaign ended in defeat. The hedge fund executed an overnight block trade of 80.6 million shares at €17.66 each, an 8% discount, causing UMG shares to fall over 7% on the Euronext Amsterdam exchange. The exit follows the formal rejection of Ackman's unsolicited €56 billion privatization bid by UMG's board, heavily influenced by the controlling Bolloré family. To mitigate the impact, UMG directly repurchased €250 million worth of its own shares from Pershing Square. Ackman had proposed merging UMG with his SPARC Holdings and moving its listing to the NYSE, but the Bolloré family dismissed the offer as inadequate.
Yahoo FinanceUniversal Music Group shares fall after Ackman’s Pershing Square exits remaining stake
Universal Music Group (UMG) shares declined on Thursday after Bill Ackman's Pershing Square Capital Management sold its remaining holding in the music company, concluding a five-year investment. Pershing Square sold approximately 80.6 million UMG shares via a private placement at €17.66 per share, an 8% discount to the prior close, valued at over $1.5 billion. UMG also repurchased over 14 million of its own shares from Pershing Square for about €250 million under its existing buyback program. The divestment follows reports that UMG recently declined a takeover proposal from Ackman that would have valued the company at around $65 billion. Pershing Square's investment generated an estimated profit of roughly $600 million. UMG stock was down about 3% at around $21, after earlier falling as much as 7%.
Yahoo FinanceUniversal Music Group shares fall after Pershing Square exits remaining stake
Universal Music Group (UMG) shares declined on Thursday after Bill Ackman's Pershing Square Capital Management sold its remaining holding in the music company, concluding a five-year investment. Pershing Square sold approximately 80.6 million UMG shares via a private placement at €17.66 per share, an 8% discount to the prior close, valued at over $1.5 billion. UMG also repurchased over 14 million of its own shares from Pershing Square funds for about €250 million under its existing buyback program. The divestment follows reports that UMG recently declined a takeover proposal from Ackman that would have valued the company at around $65 billion. Pershing Square's investment generated an estimated profit of roughly $600 million. UMG's U.S.-listed shares fell about 3% to around $21, while European shares dropped 4% to about €18.
Yahoo FinanceBillionaire Bill Ackman sells 1.42 billion-euro Universal Music stake after failed takeover
Billionaire investor Bill Ackman, CEO of Pershing Square Capital Management, has sold his stake in Universal Music Group for 1.42 billion euros. The sale follows a failed takeover attempt in April, when Ackman proposed acquiring the music company that represents artists like Taylor Swift and Drake. Universal Music Group has bought back approximately 14.2 million shares from Ackman's offering. The transaction marks a significant exit for Ackman from one of the world's largest music companies, after his acquisition bid was unsuccessful. The news was published by The Business Times Singapore on June 4, 2026.
The Business TimesBillionaire Bill Ackman Sells 1.42 Billion-Euro Universal Music Stake After Failed Takeover
Billionaire investor Bill Ackman, CEO of Pershing Square Capital Management, has sold his stake in Universal Music Group (UMG) for approximately 1.42 billion euros. The sale follows a failed takeover attempt in April, where Ackman proposed acquiring the music giant that represents artists like Taylor Swift and Drake. As part of the transaction, Universal Music Group bought back about 14.2 million shares from Ackman's offering. The deal marks a significant exit for Ackman from one of the world's largest music companies, after his acquisition proposal did not materialize. The news was reported by The Business Times Singapore on June 4, 2026.
The Business TimesUniversal Music Rejects Bill Ackman's $65 Billion Takeover Offer
Universal Music Group (UMG) has rejected an unsolicited $65 billion takeover offer from Bill Ackman's Pershing Square Capital Management. The board of directors stated the offer significantly undervalued the company and did not serve the best interests of shareholders. The offer, submitted on April 7, 2026, valued UMG at €30.40 per share (€55.75 billion). Board Chair Sherry Lansing expressed confidence in the company's long-term strategy. The rejection is a setback for Ackman, who aims to transform Pershing Square into a diversified holding company similar to Berkshire Hathaway. Analysts maintain a Moderate Buy rating on UMG stock, with an average price target of €26.01, implying 33% upside.
Yahoo FinanceUniversal Music Rejects Bill Ackman's $65 Billion Takeover Bid
Universal Music Group's board has unanimously rejected billionaire Bill Ackman's $65 billion (£48.3 billion) takeover proposal from Pershing Square Capital, arguing it 'materially undervalues' the company and is not in the best interest of shareholders or artists. The proposal, made last month, offered a cash and stock deal valuing the company at roughly €30.4 per share and would have merged Universal with a blank-cheque company. Universal's largest individual shareholder, Bollore, also urged rejection. Despite Universal's shares falling over 20% in the past year, the board believes the offer undervalues the company. Ackman had argued that moving Universal's listing from Amsterdam to New York and disposing of its Spotify stake would boost value. Universal CEO Sir Lucian Grainge reaffirmed commitment to long-term value creation. Pershing Square, which holds a 10% stake in Universal, was contacted for comment.
City AMUniversal Music Rejects Bill Ackman's $65 Billion Takeover Bid
Universal Music Group's board has unanimously rejected billionaire Bill Ackman's $65 billion (£48.3 billion) takeover proposal from Pershing Square Capital, arguing it 'materially undervalues' the company and is not in the best interest of shareholders or artists. The cash-and-stock offer, which would have merged Universal with a blank-cheque company and moved its listing from Amsterdam to New York, was valued at roughly €30.4 per share. Universal's largest individual shareholder, Bollore, also urged rejection. Despite Universal's strong artist roster including Taylor Swift and Kendrick Lamar, its shares have fallen over 20% in the past year. Ackman had argued the deal would address stock underperformance unrelated to business operations. Universal CEO Sir Lucian Grainge reaffirmed commitment to long-term value creation, while the company continues to review share buyback plans and a potential sale of half its Spotify stake.
City AMUniversal Music Group Rejects Bill Ackman's $65 Billion Takeover Bid
Universal Music Group (UMG) has rejected a $65 billion takeover offer from Bill Ackman's Pershing Square Capital, stating that the bid fundamentally and materially undervalues the company. The decision was made by UMG's board of directors, which determined that the offer would not deliver superior value creation. The rejection follows opposition from UMG's largest billionaire-backed shareholder. The story is developing, with no further details on potential counteroffers or next steps provided in the initial report.
Forbes - BusinessLarge Universal Music Investor Disses Offer from Ackman’s Pershing
Bolloré Group, a major shareholder in Universal Music Group (UMG) with an 18.5% stake and 40% voting rights, publicly urged UMG's management to reject a $65 billion takeover bid from Bill Ackman's Pershing Square Capital. Bolloré CEO Cyrille Bolloré called the offer not positive for the company, despite praising Ackman as a smart investor. Ackman had previously conceded that Bolloré's approval is essential for the deal. Pershing argues UMG's Amsterdam-listed stock is undervalued and would benefit from a New York Stock Exchange listing. UMG's stock fell 2.6% following the news. In response to Pershing's concerns, UMG has already increased its share buyback program and plans to sell half of its Spotify stake. The article also notes UMG's valuable music library, including artists like Taylor Swift and The Beatles.
Yahoo FinanceUniversal Music Shareholder Deals Blow to Bill Ackman’s $65 Billion Bid
Universal Music Group shareholder Bollore Group has called on the record label to reject a $65 billion bid from Bill Ackman's Pershing Square Capital. Cyrille Bollore, CEO of Bollore Group, stated that Ackman's offer of 30.40 euros per share in a cash-and-stock deal, valuing Universal's outstanding stock at 55.89 billion euros ($65.01 billion), undervalues the company. This opposition could derail Ackman's efforts to acquire the world's largest music company, which houses artists including Lady Gaga, Taylor Swift, and the Beatles.
Yahoo FinanceFrench billionaire Bolloré opposes Trump backer Bill Ackman's Universal Music bid
Cyrille Bolloré, head of the French Bolloré dynasty, publicly opposed Bill Ackman's $64 billion takeover bid for Universal Music Group, the world's largest record label. Speaking at Bolloré Group's capital markets day, Bolloré stated the offer undervalues the company and criticized Ackman, a prominent Donald Trump supporter, for not using his own money. The Bolloré family, holding a combined 27% stake, is the largest shareholder, making their opposition a major obstacle since the deal requires two-thirds shareholder approval. Ackman, through Pershing Square, proposed shifting Universal's listing from Amsterdam to New York and installing new board members. Universal has not commented but recently sold part of its Spotify stake, another Ackman proposal. The bid is seen as a potential exit for the Bolloré family, but Bolloré insisted they are in no rush to sell.
Yahoo FinanceBill Ackman's $64 Billion Universal Music Group Bid Rejected by Major Shareholder Bolloré
Billionaire investor Bill Ackman's $64 billion bid to acquire Universal Music Group (UMG) suffered a major setback on May 27, 2026, when Cyrille Bolloré, CEO of major shareholder Bolloré Group, publicly urged UMG's management to reject the offer, stating the price 'is absolutely not high enough' and questioning whether Ackman is 'compatible' with the company's management. Bolloré, son of media mogul Vincent Bolloré, made the comments at a shareholder meeting, marking his first public remarks since Ackman's April bid. The Bolloré family controls approximately 31% of UMG through direct holdings and their stake in Vivendi, while Ackman's Pershing Square owns 4.5%. Ackman had previously acknowledged the deal required Bolloré's backing. The proposed transaction would have merged UMG with Pershing Square SPARC Holdings, moved its primary listing from Amsterdam to New York, and valued the company at about $35.13 per share. Analysts had already doubted the bid's viability without Bolloré support. Ackman, worth $9 billion, had expressed interest in UMG since 2021 and served on its board until 2025.
Forbes - BusinessBollore CEO Urges Universal Music Group to Reject Bill Ackman's $64 Billion Takeover Bid
Cyrille Bollore, CEO of Bollore SE, publicly urged Universal Music Group (UMG) to reject Bill Ackman's $64 billion takeover proposal, stating the offer undervalues the company and relies on UMG's own cash rather than Ackman's funds. Speaking at Bollore's annual shareholder meeting, Bollore said the Bollore family sees no reason to accept Pershing Square's bid, noting that Vincent Bollore owns 18.4% of UMG and Vivendi holds 13.4%, enough to block the deal. Bollore indicated openness to selling a small stake at a higher price (27-28 euros per share) but criticized Ackman's management style and supported UMG's current expansion strategy. Ackman had previously acknowledged that without Bollore family backing, the transaction would not proceed. UMG declined to comment, and Ackman's representative was not immediately available. The bid includes 9.4 billion euros in cash plus 0.77 shares of new stock per UMG share, and a plan to shift UMG's primary listing from Amsterdam to the US.
Yahoo FinanceBollore CEO Urges Universal Music Group to Reject Bill Ackman's $64 Billion Takeover Bid
Cyrille Bollore, CEO of Bollore Group, publicly urged Universal Music Group (UMG) to reject Bill Ackman's $64 billion unsolicited takeover proposal, stating the offer undervalues the company and relies on UMG's own cash rather than Ackman's funds. Speaking at Bollore's annual shareholder meeting, Cyrille Bollore said the Bollore family, which owns 18.4% of UMG directly and 13.4% via Vivendi, sees no reason to accept the bid and has enough shares to block it. He criticized Ackman's management style and supported UMG's current expansion strategy. Ackman had previously acknowledged that without the Bollore family's backing, the transaction would not proceed. UMG declined to comment. The bid includes 9.4 billion euros in cash plus 0.77 shares of new stock per UMG share, and a plan to move UMG's primary listing from Amsterdam to the United States.
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