Universal Music Slumps as Bill Ackman's Pershing Square Offloads Stake After Failed Takeovers
The sale could generate at least $600 million in profit after UMG rejected Ackman’s $64 billion takeover bid, according to reports.
- On Thursday, Universal Music Group repurchased some shares sold by Bill Ackman's Pershing Square, following the rejection of his takeover proposal.
- UMG's board rejected Ackman's unsolicited bid last month, claiming it "materially undervalued" the firm; French billionaire Vincent Bollore urged the board to decline.
- Pershing held a 4.7% stake worth about $1.64 billion, making it UMG's fourth-biggest shareholder; the company bought back more than 14 million shares for roughly €250 million.
- The exit concludes Ackman's five-year relationship with the label, as shares of UMG listed in Amsterdam fell nearly 7 per cent by mid-morning Thursday.
- Ackman, known for aggressive activist campaigns, resigned from UMG's board in 2025 after growing frustrated with share performance and the influence of CEO Cyrille Bollore.
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The move marks the manager's exit from the world's largest record label after two failed acquisition attempts.
American billionaire Bill Ackman, CEO of hedge fund Pershing Square, has unexpectedly exited UMG, the music service behind Taylor Swift, among others. The activist shareholder at UMG had recently received a rejection of his takeover bid.
Universal Music Group N.V. Announces Repurchase of 14.156 million of its Ordinary Shares from Pershing Sq
HILVERSUM, The Netherlands, June 4, 2026 /PRNewswire/ -- Universal Music Group N.V. ("UMG" or "the Company") today announced that it has repurchased 14,156,285 of its ordinary shares as part of the disposition of the entire position owned by various Pershing Square funds. The Company acquired the shares at a price per share of €17.66 for a total consideration of approximately €250 million. The repurchase was executed outside of the Company's …
Bill Ackman’s Pershing Square to Exit Universal Music Stake
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