Universal Music Board Unanimously Rejects Pershing Square Takeover Bid, Says ‘It Fundamentally and Materially Undervalues UMG’

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Photo Credit: Nick Fewings As expected, Universal Music Group’s board has formally rejected Pershing Square’s $64 billion takeover proposal after being urged to do so by Bolloré Group. We covered Bolloré Group’s clear-cut opposition to the bid earlier this week, when CEO Cyrille Bolloré criticized key elements (among them priceContinue Reading