Ackman pushes a massive proposal to bring Universal Music to the U.S.
🎵 Pershing Square has submitted a non-binding proposal to acquire Universal Music Group at a valuation of about EUR 55.75 billion, or EUR 30.40 per share. That price represents a 78% premium to the April 2 close, immediately putting the spotlight back on UMG’s valuation story.
🌍 The key angle is not just the size of the offer, but the plan to merge UMG into a “New UMG” listed on the NYSE. If that happens, UMG could gain better access to U.S. institutional capital, deeper liquidity, and a stronger path toward inclusion in major indexes.
📈 Ackman argues that UMG’s shares have been held back for years by its listing venue, an underused balance sheet, and an unclear capital allocation story. The market reacted quickly, with both UMG and Bolloré shares moving higher after the news.
⚖️ Even so, this is still only an initial proposal and has not been formally accepted by the key parties. For now, the story is more about the possibility of unlocking valuation than a deal that is already certain to close.