The Guardian Australia – Business · business
Universal Music receives takeover offer from Bill Ackman’s Pershing Square
2 hours ago
Bill Ackman's Pershing Square has proposed a takeover of Universal Music Group, valuing the company at over €50 billion. Ackman cited UMG's struggling share price and issues unrelated to its music business as motivators for the offer. The deal would grant shareholders a 78% premium on recent share prices, pending structural changes and board additions.
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Summary by Glance · Original reporting by The Guardian Australia – Business
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