Bill Ackman’s Pershing Square Capital Unveils Takeover Bid for Universal Music Group

Apr 6, 2026 11:55pm PT Bill Ackman’s Pershing Square Capital Unveils Takeover Bid for Universal Music Group Offer from hedge fund giant values world's largest music company at about $35 a share By Cynthia Littleton Plus Icon Cynthia Littleton Business Editor @Variety_Cynthia Latest LISTEN: ‘The Super Mario Galaxy Movie’ Illuminates the Box Office But Leaves Room for ‘Project Hail Mary’ 14 hours ago UCLA Wins First NCAA Women’s Basketball Championship, Dominating South Carolina Gamecocks 1 day ago LISTEN: ‘Project Hail Mary’ Holds on Tight; Why ‘The Bold and the Beautiful’ Is Launching a Streaming App 1 week ago See All Bill Ackman ‘s Pershing Square Capital Management disclosed early Tuesday that a takeover bid for Universal Music Group has been submitted to UMG’s board. The offer includes about $10.9 billion in cash, plus additional stock consideration that pushes the total consideration to about $35 a share. Pershing Square said that UMG’s stock has been undervalued because of uncertainty around the company’s ownership structure and around UMG’s stake in Spotify, and by the company’s delay of its planned stock listing in the U.S. Ackman previously struck an agreement with the company last year to establish a secondary listing in the U.S. in addition to its primary home on the Euronext Amsterdam listing. Related Stories 'SNL U.K.' Is Strongest When Leaning Into What Makes British Comedy Great — but Its Replicated Format Risks Feeling Too American: TV Review