Bill Ackman’s Pershing Square Capital has made a bid to acquire Universal Music Group in a deal valuing the company at roughly $60 billion, the firm said — an offer that would merge Universal with Pershing Square Sparc Holdings and, if approved, close by year‑end.
Under the proposal, the combined company would be based in Nevada and shift its stock listing from Amsterdam to the New York Stock Exchange. Pershing Square said the transaction would address issues it believes have weighed on UMG’s stock price despite strong music‑business performance.
Universal, the world’s largest record label and home to artists including Taylor Swift, Bad Bunny, the Beatles, Bob Dylan, Kendrick Lamar, Elton John, Coldplay and Billie Eilish, controls more than 30% of the global recorded‑music market.
The Wall Street Journal is reporting major shareholders such as Vincent Bolloré, Vivendi SE and China’s Tencent hold substantial voting power; Pershing Square said the deal would require a two‑thirds shareholder vote to pass. The proposal calls for a new board of directors that would include former Disney executive Michael Ovitz.
Pershing Square CEO Bill Ackman said UMG’s stock has “languished” for reasons separate from its music operations and that the transaction would remedy those issues. Universal did not respond to a request for comment.