Bill Ackman’s Pershing Square is selling a significant portion of its stake in Universal Music Group (UMG). The firm is offering approximately 80.6 million shares for sale. This transaction could generate up to €1.5 billion.
The move follows UMG's formal rejection of Pershing’s €56 billion acquisition offer. The board issued this decision on May 29, 2026. UMG’s board concluded the proposal significantly undervalued the company. Directors determined the bid was not in the best interest of shareholders.