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Olga Kurylenko

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Posted On: May 28th 2026, 05:35 pm

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Variety reports 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 Cyrille 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.

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