Bollore rejects Ackman's $64 billion bid on Universal Music
Bollore said the offer is too low and relies on UMG’s own funds, while Ackman’s plan would shift the company’s listing to the United States.
- On Wednesday, Cyrille Bolloré, CEO of Bolloré Group, rejected Bill Ackman's $64 billion bid to acquire Universal Music Group, saying the price is 'not there at all' and questioning whether Ackman is 'compatible' with the company.
- Ackman launched his $64 billion offer in April for the music label housing Taylor Swift, Kendrick Lamar and Billie Eilish, arguing UMG's stock had 'languished' and proposing to relocate its listing from Amsterdam to New York.
- Bolloré objected that the deal used UMG's own money rather than Ackman's capital and described Ackman's management style as 'more abrupt, more rapid,' clashing with company culture. He told shareholders 'We think the price is not there at all.'
- Ackman acknowledged 'without Bolloré, we don't have a transaction,' as Bolloré's stake gives him veto power; analyst Nicolas Marmurek at Square Global told Bloomberg the proposal 'looks very much dead from the start,' and UMG stock dipped 2.6% on Wednesday.
- Bolloré's 18.4% direct stake combined with Vivendi's 13.4% stake—in which Bolloré holds 29.3%—gives him de facto control, a structural advantage Ackman has pursued since 2021 while arguing UMG trades at a discount due to limited U.S. listing visibility.
17 Articles
17 Articles
Bill Ackman's $64 Billion Push To Take Over Universal Music Group Just Hit A Wall As Key Shareholder Says
Cyrille Bolloré, CEO of Bolloré SE, has publicly advised Universal Music Group N.V. (OTC:UNVGY) to reject the $64 billion takeover bid from Bill Ackman, citing the undervaluation of the music label and the proposal’s misalignment with the company’s long-term strategy. Bolloré expressed his disapproval of Ackman’s takeover proposal at Bolloré’s annual shareholder meeting on Wednesday, as reported by Reuters. The Bollore family, owning 18.4% of Un…
Large Universal Music Investor Disses Offer from Ackman’s Pershing
Bill Ackman’s road to acquiring Universal Music Group, home to The Beatles’ master recordings, just got longer and more winding. Influential shareholder Bolloré Group urged UMG on Wednesday to reject a $65 billion takeover bid by the billionaire’s Pershing Square Capital, arguing it undervalues the world’s biggest record label. All in the Family Conglomerate No less than Ackman has conceded the approval of Bolloré, a Paris-based conglomerate con…
The U.S. investment fund made an offer to Universal Music shareholders in April. Bolloré's main shareholder of the music industry giant does not find the offer "beneficial".
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