Pershing Square Proposes a €55 Billion Takeover of Universal Music Group
Bill Ackman’s hedge fund, Pershing Square, has launched a non-binding takeover bid valuing Universal Music Group at nearly €55 billion. We saw this coming… UMG announced a share buyback program a few days ago, but the major label’s market capitalization remains at an all-time low. This situation opened the door to uncertain scenarios regarding the major label’s future. A hostile… stile takeover was always possible, given the lackluster stock price.The U.S. fund Pershing Square, led by investor Bill Ackman, has therefore just announced a « non-binding » buyout offer for Universal Music Group (UMG) valued at approximately 55 billion euros… Well above the current 30 billion euros. This offer includes €9.4 billion in cash (or €5.05 per share) and 0.77 shares of the new company resulting from the merger between…