Bolloré Pushes Universal Music Group to Reject Ackman’s $64B Acquisition Proposal
Cyrille Bolloré, CEO of Bolloré, is urging Universal Music Group to reject Bill Ackman's $64 billion acquisition proposal, claiming it undervalues the company. He emphasized that the offer does not reflect the true worth of UMG and criticized Ackman for not using his own funds. Bolloré's comments mark his first public response since Ackman's proposal was made in April.
- ▪Cyrille Bolloré is the largest shareholder in Universal Music Group (UMG).
- ▪Bolloré stated that Ackman's offer does not adequately value UMG.
- ▪He encouraged UMG's management to reject the acquisition proposal.
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Bill Ackman PATRICK T. FALLON/AFP/Getty Images Share on Facebook Share on X Google Preferred Share to Flipboard Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Send an Email Print the Article Post a Comment Bolloré CEO Cyrille Bolloré is encouraging Universal Music Group to reject Bill Ackman‘s $64 billion acquisition proposal, arguing that the billionaire investor’s offer undervalues the company. According to Reuters, Bolloré, whose company is the largest shareholder in UMG, said during the company’s markets day that “the price is not there at all.” “He is not making an offer with his own money,” Bolloré, who stepped down from UMG’s board of directors last year, said. “It is our money, the company’s money.
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