"Ackman argues the world's largest music label has been undervalued by structural factors, including the Bolloré Group's 18% stake and the postponement of a US listing, that have nothing to do with its underlying business."
"Under the proposal, UMG shareholders would receive €5.05 per share in cash, a total cash outlay of €9.4 billion, plus 0.77 shares of a newly created entity, New UMG, for each share held."
"Ackman has framed the offer as a remedy for structural problems rather than a commentary on UMG's music business, stating that management under CEO Sir Lucian Grainge had done an excellent job nurturing and continuing to build a world-class artist roster."
Pershing Square Capital Management has made a non-binding proposal to acquire Universal Music Group for approximately €55.75 billion. The offer values UMG at €30.40 per share, a 78% premium over its last closing price. Shareholders would receive €5.05 in cash and shares of a new entity. The deal aims to address structural issues affecting UMG's stock price, which Bill Ackman believes are unrelated to the company's strong business performance under CEO Sir Lucian Grainge. The transaction is expected to close by the end of 2026.
Read at TNW | Investors-Funding
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