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Universal Music rejects Ackman’s $64B takeover as undervalued

1 min read
Source: BBC
Universal Music rejects Ackman’s $64B takeover as undervalued
Photo: BBC
TL;DR

Universal Music Group rejected Pershing Square’s $64.3 billion takeover bid as undervalued and not in the best interests of shareholders, artists, fans and other stakeholders; the deal would have created a U.S.-listed company, while concerns over Bolloré Group’s 18% stake and a delayed NYSE listing helped block the bid.

Topics:business#bill-ackman#business#pershing-square#takeover-bid#undervalued#universal-music-group
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  1. Music giant Universal rejects billionaire Bill Ackman's takeover bid  BBC
  2. Universal Music Group Rejects Bill Ackman’s $64B Takeover Proposal: “It Fundamentally and Materially Undervalues UMG”  The Hollywood Reporter
  3. Universal Music Shareholder Deals Blow to Bill Ackman’s $65 Billion Bid  WSJ
  4. Universal Music Group Rejects Bill Ackman’s Offer as Too Low  Bloomberg.com
  5. Universal Music Group Officially Rejects Bill Ackman’s $64 Billion Takeover Bid  Variety

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