Universal Music rejects Ackman’s $64B takeover as undervalued
TL;DR Summary
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.
- Music giant Universal rejects billionaire Bill Ackman's takeover bid BBC
- Universal Music Group Rejects Bill Ackman’s $64B Takeover Proposal: “It Fundamentally and Materially Undervalues UMG” The Hollywood Reporter
- Universal Music Shareholder Deals Blow to Bill Ackman’s $65 Billion Bid WSJ
- Universal Music Group Rejects Bill Ackman’s Offer as Too Low Bloomberg.com
- Universal Music Group Officially Rejects Bill Ackman’s $64 Billion Takeover Bid Variety
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