Cyrille Bolloré Encourages Universal Music Group To Reject Bill Ackman’s $64B Offer
Cyrille Bolloré has advised Universal Music Group to reject a $64.4 billion offer from Bill Ackman's Pershing Square. He expressed concerns that the offer undervalues the company and questioned Ackman's management style. Bolloré's comments are significant as his group holds an 18.4% stake in UMG and can veto the deal.
- ▪Cyrille Bolloré is the Chair and CEO of the Bolloré Group.
- ▪Bolloré believes the $64.4 billion offer from Ackman undervalues Universal Music Group.
- ▪The Bolloré Group owns an 18.4% stake in UMG and can veto the deal.
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Cyrille Bolloré, Chair and CEO of the Bolloré Group, has encouraged Universal Music Group (UMG) management to reject a $64.4B offer from Bill Ackman’s Pershing Square. Speaking at the Bolloré Group AGM in Paris on Wednesday, Bolloré said he believed the offer undervalued the company and also questioned whether Ackman’s management style suited the music group. The Bolloré Group can veto the deal. It owns an 18.4% stake in UMG, while Vivendi, in which the group has a 29.3% stake, owns 13.4% of the music group Watch on Deadline if ( !window.pmc.harmony?.isEventAdScheduledTime() ) { pmcCnx.cmd.push(function() { pmcCnx({ settings: { plugins: { pmcAtlasMG: { iabPlcmt: 2, } } }, playerId: '32fe25c4-79aa-406a-af44-69b41e969e71', playlistId: '0199e506-e642-7728-8264-463efe71337b',…
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