UMG repurchases $290M in stock from Bill Ackman’s Pershing Square as fund exits

UMG spends $290m buying back stock from Bill Ackman’s Pershing Square, amid fund’s exit from music company

June 4, 2026 By Mandy Dalugdug

Universal Music Group has bought back EUR €250 million of its own stock directly from Bill Ackman ‘s Pershing Square .

The figure translates to about USD $290 million at current exchange rates.

UMG repurchased 14,156,285 of its ordinary shares at €17.66 each, the company said on Thursday ( June 4 ).

The purchase formed part of the disposition of the entire remaining UMG position held by various Pershing Square funds.

It brings to an end Pershing Square ‘s run as a shareholder in the company led by Sir Lucian Grainge .

Bloomberg reported on Wednesday (June 3) that Pershing Square would be selling around 80.6 million UMG shares via an overnight placing.

The sell-down followed UMG ‘s board rejecting a takeover proposal from Ackman and Pershing Square .

The €250 million repurchase was carried out separately from UMG ‘s existing €500 million share buyback program , which the company launched in March.

It was instead executed under an additional €500 million share repurchase authorization granted by shareholders at UMG ‘s Annual General Meeting on May 13.

UMG said it intends to use the repurchased shares to meet obligations under its 2022 Global Equity Plan and/or to reduce its share capital.

UMG’s shares fell 6% in early-morning trade on the Euronext Amsterdam on Thursday, following news of Ackman/Pershing’s stock disposal.

Pershing Square first acquired approximately 10% of UMG from Vivendi in the summer of 2021 for approximately $4 billion , around the time of the company’s listing on the Euronext Amsterdam exchange.

In January 2025 , Pershing Square distributed 47 million UMG shares to co-investors as one of its funds was wound down.

Pershing Square then sold around 50 million more shares for roughly $1.4 billion in March 2025 .

Ackman resigned from UMG ‘s board in May 2025 , citing “new executive and board obligations arising from his recent investments.”

Pershing Square ‘s non-binding takeover proposal, unveiled in April , valued UMG at approximately €55.8 billion ( $64.4bn ), or €30.40 per share.

The proposal would have merged UMG with Pershing Square SPARC Holdings , with the combined company incorporating in Nevada and moving its primary listing from Euronext Amsterdam to the New York Stock Exchange .

UMG ‘s Board of Directors said on Friday ( May 29 ) that it had unanimously determined the proposal was “not in the best interests of UMG, its shareholders, artists, songwriters, employees and other stakeholders”.

The board added that it had rejected the proposal “because it fundamentally and materially undervalues UMG and will not deliver superior value creation”.

The Bolloré Group , which controls 28% of UMG through a direct stake and its holding in Vivendi , had urged the board to turn the offer down.

“We think the price is not there at all,” Cyrille Bolloré told the Bolloré Group ‘s annual shareholders meeting last week.

“He is not making an offer with his own money,” Bolloré added. “It is our money, the company’s money.”

When he presented the bid, Ackman said UMG ‘s stock price had “languished due to a combination of issues that are unrelated to the performance of its music business and importantly, all of them can be addressed with this transaction”. Music Business Worldwide

News United States Netherlands Bill Ackman Pershing Square UMG Universal Music Group

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_Originally reported by [Music Business Worldwide](https://www.musicbusinessworldwide.com/umg-spends-290m-buying-back-stock-from-bill-ackmans-pershing-square-amid-funds-exit-from-music-company/)._