Universal Music Group takeover bid: Bolloré SE urges UMG to rebuff Ackman’s €64bn offer
Cyrille Bolloré, Chief Executive of Bolloré SE, has said the offer undervalues the company and is financed in a way that relies ‘too heavily on the label’s own resources’
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Published: May 28, 2026 8:27 AM | 1 min read
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- Cyrille Bolloré, CEO of Bolloré SE, has advised Universal Music Group (UMG) shareholders to reject Bill Ackman's €64 billion takeover bid, claiming it undervalues the company.
- At Bolloré SE's annual shareholder meeting, he criticized Ackman's financing strategy as overly reliant on UMG's own resources.
- This marks the first public response from a significant UMG shareholder regarding Ackman's proposal; Bolloré SE holds an 18.4% stake in UMG.
- Bolloré indicated a willingness to sell a portion of their stake if the share price reaches around €27-28, establishing a public valuation threshold.
Cyrille Bolloré, Chief Executive of Bolloré SE, has urged Universal Music Group (UMG) shareholders to reject Bill Ackman’s €64 billion takeover proposal, saying the offer undervalues the company and is financed in a way that relies “too heavily on the label’s own resources”.
As per media reports, at Bolloré SE’s annual shareholder meeting, Cyrille Bolloré criticised Pershing Square Capital Management’s approach as “not an offer with his own money. It is our money, the company’s money.” These are the first direct public response from a major UMG shareholder to Ackman’s proposal.
Vincent Bolloré controls an 18.4% stake in UMG, while media group Vivendi holds 13.4%.
Media reports quoted Cyrille Bolloré as saying that Bolloré SE would consider selling a small portion of its stake, but only at a materially higher valuation. “If the share price were around €27–28, it would certainly be worth considering selling a portion of the holding,” he said, effectively setting a public floor to valuation expectations.
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