Universal Music Group shares fall after Ackman’s Pershing Square exits remaining stake
Key takeaways
- According to media reports, Pershing Square sold approximately 80.6 million UMG shares through a private placement at €17.66 per share, representing roughly an 8% discount to Wednesday’s closing price.
- Universal Music also disclosed that it repurchased more than 14 million of its own shares from various Pershing Square funds for approximately €250 million ($289.9 million).
- The divestment follows reports that Universal Music recently declined a takeover proposal from Ackman that would have valued the company at around $65 billion.
Universal Music Group shares fall after Ackman’s Pershing Square exits remaining stake Universal Music Group shares fall after Ackman’s Pershing Square exits remaining stake Proactive uses images sourced from Shutterstock Proactive Thu, June 4, 2026 at 10:01 PM GMT+7 1 min read PS UMG.AS Universal Music Group (AEX:UMG) shares fell on Thursday after Bill Ackman’s Pershing Square Capital Management sold its remaining holding in the music company, bringing an end to a five-year investment.
According to media reports, Pershing Square sold approximately 80.6 million UMG shares through a private placement at €17.66 per share, representing roughly an 8% discount to Wednesday’s closing price. The stake sale was valued at more than $1.5 billion.
Universal Music also disclosed that it repurchased more than 14 million of its own shares from various Pershing Square funds for approximately €250 million ($289.9 million). The transaction was completed under the company’s existing €500 million share buyback program.