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Fri, 29 May 2026

Fri, 29 May 2026 Universal rejects billionaire Bill Ackman's takeover bid

The music giant said Pershing Square's offer fundamentally undervalued the business.
Universal Music Group has rejected a $64.3 billion takeover offer from Bill Ackman's investment firm, Pershing Square, saying it undervalues the company and its assets. The music giant cited concerns that the bid would not be in the best interests of shareholders, artists, fans, and other stakeholders. Universal claims to have confidence in its current strategy under CEO Sir Lucian Grainge, who said the company remains committed to innovation and signing top stars. The rejection comes after Pershing Square launched a takeover bid in April, which was met with opposition from Bolloré Group, one of Universal's largest shareholders. Universal has promised "enhanced financial disclosures" to provide a clearer picture of its value.