Industry May 29, 2026
Universal Music Group’s Board Rejects Pershing Square Offer: ‘It Fundamentally Undervalues UMG’
UMG's board believes it has a "strong consensus" of investors behind its decision to reject Pershing's offer, following criticism of the bid aired by its largest shareholder, the head of Bolloré Group
Originally published by
Billboard
The board of Universal Music Group (UMG) has rejected an offer from Pershing Square, stating that the bid "fundamentally undervalues UMG." The decision follows objections raised by the head of Bolloré Group, UMG's largest shareholder. UMG's board indicated a "strong consensus" among investors supported their rejection of the offer.