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business21h ago
Bolloré Pushes Universal Music Group to Reject Ackman’s $64B Acquisition Proposal
- Bolloré, UMG’s largest shareholder, urges the company to reject Bill Ackman’s $64 billion bid.
- Bolloré says Ackman’s offer undervalues UMG and is not funded with his own money.
- Bolloré comments come during UMG’s markets day as he stepped down from the board last year.
- Ackman and Pershing Square did not respond to requests for comment.
- Ackman first floated the proposal in April, drawing Bolloré’s public remark on its value.
- Under Ackman’s proposal, UMG would move its listing from Amsterdam to the New York Stock Exchange.
- UMG's board expressed confidence in its strategy and leadership amid the bid.
- Thirteen: The piece notes Bolloré previously commented on the matter since April.
- The piece emphasizes that Ackman’s proposal would relocate UMG’s listing to New York.
- The report underscores Bolloré’s influence as the largest UMG shareholder in guiding strategy.
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