Bollore CEO urges Universal Music to reject Ackman's bid

Investing.com -- Cyrille Bollore, chief executive of Bollore Group, said Wednesday he is encouraging Universal Music Group management to reject an acquisition offer from Bill Ackman's Pershing Square.

Speaking at Bollore Group's annual shareholders meeting, Bollore said the price offered by Pershing Square "is nowhere near good enough." He also questioned whether Ackman's approach aligns with Universal Music Group's corporate culture.

Bollore Group holds a stake in Universal Music Group, the world's largest music company.

You May Also Be Interested In

• Apollo Global Management (APO) call put ratio 1 call to 6.8 puts a focus on a spreader of 9K contracts January 95 and 135 puts
• TD Cowen Resumes Keyera Corp. (KEY:CN) (KEYUF) at Buy
• Meta Platforms (META) call put ratio 1.7 calls to 1 put