Key facts
- Universal Music Group will repurchase over 14.2 million shares from Pershing Square.
- The share repurchase is valued at approximately $290.5 million.
- UMG previously rejected a $64 billion takeover proposal from Pershing Square.
- Bill Ackman resigned from UMG's board in 2025.
Universal Music Group (UMG) has announced it will repurchase over 14.2 million shares from Pershing Square, the investment firm founded by billionaire Bill Ackman. The transaction is valued at approximately $290.5 million. This move comes after UMG rejected a substantial takeover proposal from Pershing Square, reportedly worth $64 billion. Bill Ackman had previously resigned from UMG's board in 2025, citing new executive and board responsibilities. Separately, Ackman's SPAC, Pershing Square Tontine Holdings, will be liquidated.