Universal Music Group Rejects Bill Ackman’s $64B Takeover Proposal: “It Fundamentally and Materially Undervalues UMG”
Universal Music Group's board has rejected Bill Ackman's $64 billion takeover proposal, stating it undervalues the company. The board emphasized that the decision was made in the best interests of UMG and its stakeholders. UMG's chairman expressed confidence in the company's ability to create sustainable growth and value.
- ▪UMG's board rejected Bill Ackman's acquisition proposal, citing it fundamentally undervalues the company.
- ▪The board believes there is strong consensus among stakeholders supporting their decision.
- ▪UMG has seen a 70 percent growth in adjusted EBITDA since its listing in 2021.
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Lucian Grainge and Bill Ackman Gilbert Flores/Variety/Getty Images; Ilya S. Savenok/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 Universal Music Group‘s board of directors has rejected Bill Ackman and Pershing Square’s $64 billion acquisition proposal, saying Friday that the deal “is not in the best interests of UMG, its shareholders, artists, songwriters, employees and other stakeholders.” “After careful review with the assistance of outside financial and legal advisors, the Board has rejected the proposal because it fundamentally and materially undervalues UMG and will not deliver superior…
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