Cyrille Bolloré Encourages Universal Music Group To Reject Bill Ackman’s $64B Offer

Cyrille Bolloré, Chair and CEO of the Bolloré Group, has encouraged Universal Music Group (UMG) management to reject a $64.4B offer from Bill Ackman’s Pershing Square.

Speaking at the Bolloré Group AGM in Paris on Wednesday, Bolloré said he believed the offer undervalued the company and also questioned whether Ackman’s management style suited the music group.

The Bolloré Group can veto the deal. It owns an 18.4% stake in UMG, while Vivendi, in which the group has a 29.3% stake, owns 13.4% of the music group

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