By Mateusz Rabiega and Leo Marchandon
April 8 (Reuters) – Market analysts are split over whether Universal Music Group’s top stakeholders will support billionaire Bill Ackman’s Pershing Square proposed $64 billion takeover of the music label.
For analysts, French tycoon Vincent Bolloré’s next move is critical and uncertain. Along with Vivendi, also controlled by the Bolloré family, analysts were split over whether the leading shareholders would welcome the touted value creation from a U.S. listing or if they would prefer to retain more control of the company. Neither party, which together hold close to 32% of UMG’s shares, has commented on the proposal yet.
UMG said on Wednesday that its board would review the proposal and analyse its “implications” for stakeholders, without providing further comments. The cash-and-shares offer, which Pershing Square values at around 30.40 euros per share, is higher than the stock’s all-time high of 29.49 euros from May 2024.
WHAT THE ANALYSTS SAY:
(Reporting by Mateusz Rabiega and Leo Marchandon in Gdansk, editing by Milla Nissi-Prussak and Anousha Sakoui)
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