Universal Music (UMG) Rejects Bill Ackman's $65 Billion Takeover Offer

Universal Music Group (UMG) rejected an unsolicited $65 billion takeover bid from Pershing Square Capital Management. The board unanimously deemed the offer undervalued the company and not in shareholders’ best interests. Ackman's cash-and-stock bid valued UMG at €30.40 per share, or about €55.75 billion (€65.03 billion). He has framed Pershing Square as a Berkshire Hathaway‑like holding company seeking diversification and growth. Shareholders showed strong backing for the decision to reject the offer. Analysts give UMG a consensus Moderate Buy rating among 10 analysts, with an average price target of €26.01 implying roughly 33% upside.