Bolloré Rejects Ackman’s $64B Universal Music Bid, Citing Low Valuation

Cyrille Bolloré, CEO of Bolloré Group, has urged Universal Music Group (UMG) to reject a $64 billion acquisition proposal from Bill Ackman’s Pershing Square.

Bolloré stated the offer undervalues the music label and criticized the deal’s financial structure. He claimed the proposal relies on company capital rather than Ackman's personal funds.

The Bolloré Group currently controls approximately 28% of UMG. This stake serves as a primary obstacle to the deal, which requires a two-thirds majority for approval.

Ackman previously admitted that any transaction remains impossible without the support of the Bolloré Group.