Universal Music rejects billionaire Bill Ackman's takeover bid
Universal Music Group, the world's biggest music company, has rejected a takeover bid worth about €49 billion from US hedge-fund manager Bill Ackman's Pershing Square vehicle. The Amsterdam-listed group said the price 'significantly undervalues' the business. The board's stance signals European resistance to US-led consolidation of catalogue assets.
BBC Business2 h agoUMG