Universal Music Group’s Board Rejects Pershing Square Offer: ‘It Fundamentally Undervalues UMG’
via billboard.com
Short excerpt below. Read at the original source.
Universal Music Group (UMG) said on Friday (May 29) its board had reviewed Bill Ackman’s investment firm Pershing Square’s merger offer that would have moved UMG’s primary stock listing to a U.S.-based exchange, saying the April 7 bid “fundamentally and materially undervalues UMG and will not deliver superior value creation,” in a press release. Related Bolloré […]