Bolloré Pushes Universal Music Group to Reject Ackman's $64B Acquisition Proposal

During the market day, Bolloré pressed Universal Music Group to reject Pershing Square’s $64 billion takeover proposal, arguing that the price simply isn’t there. He noted the bid would be funded with the company’s own money, not Pershing Square’s, and urged management to dismiss it. The remarks mark Bolloré’s first public take on Ackman’s offer since it was announced in April, and there was no response from Ackman or Pershing Square. Ackman had proposed moving UMG’s listing from Amsterdam to the New York Stock Exchange, a plan the board has not approved. UMG remains confident in its strategy and leadership under Sir Lucian Grainge.