Industry

Universal Music Group Rejects Bill Ackman's $64 Billion Takeover Offer

Universal Music Group's board has rejected an unsolicited $64 billion takeover bid from Bill Ackman's Pershing Square Capital. This decision follows key shareholder Vincent Bollore's recommendation to decline the offer.

Variety Music·May 29, 2026·via Variety Music

Universal Music Group Rejects Bill Ackman's $64 Billion Takeover Offer

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May 29, 2026 10:59am PT

Universal Music Group Officially Rejects Bill Ackman’s $64 Billion Takeover Bid

By Jem Aswad

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Jem Aswad

Executive Editor, Music

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The board of Universal Music Group has rejected an unsolicited $64 billion takeover offer from Bill Ackman’s Pershing Square Capital , the company announced on Friday. The move comes a day after key shareholder Vincent Bollore urged UMG to reject the offer.

The “Board of Directors has unanimously determined that the unsolicited and non-binding proposal it received from Pershing Square Capital Management, L.P. on April 7, 2026, is not in the best interests of UMG, its shareholders, artists, songwriters, employees and other stakeholders,” the announcement reads in part.