Universal Music Rejects Bill Ackman’s $22-Per-Share Bid

Universal Music Group (UMG) has turned down a major investment proposal from Pershing Square, the hedge fund led by billionaire Bill Ackman, that sought to raise its stake in the label to nearly 30 percent.

Ackman’s offer, made in early April, included a mix of cash and shares in a new entity, Pershing Square SPARC, valued at $22 per share, with plans to list the merged company on the New York Stock Exchange.

UMG — home to global stars like Taylor Swift, Bad Bunny, The Weeknd, and Sting — rejected the deal, citing internal stability and long-term strategy. Ackman had argued that UMG’s stock was being held back by external factors, including uncertainty around Bollore’s 18 percent stake and delays in U.S. market listing.

Pershing Square, which once owned 10 percent of UMG after buying from Vivendi in 2021, now holds just 4.7 percent, according to the company’s latest report.

Written by Boom RadioNG