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Bill Ackman Offers €55 Billion Bid for Universal Music

4/7/2026

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Summary

Story summary

Pershing Square Capital Management founder Bill Ackman proposed a cash-and-stock bid to acquire Universal Music Group (UMG) for about €55 billion (£48 billion).
Shareholders would receive €9.4 billion in cash and 0.77 new UMG shares per share, a 78% premium.
Ackman cited UMG's underperformance due to Bolloré Group's 18% stake and U.S. listing delays.
The deal could close by year-end, and UMG's shares rose after the announcement.

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Story summary

Pershing Square Capital Management founder Bill Ackman proposed a cash-and-stock bid to acquire Universal Music Group (UMG) for about €55 billion (£48 billion).
Shareholders would receive €9.4 billion in cash and 0.77 new UMG shares per share, a 78% premium.
Ackman cited UMG's underperformance due to Bolloré Group's 18% stake and U.S. listing delays.
The deal could close by year-end, and UMG's shares rose after the announcement.