Universal Music Group Rejects Billionaire Bill Ackman's $64.3 Billion Takeover Offer

Universal Music Group (UMG), the prominent entertainment company encompassing labels such as EMI and Island Records, has formally rejected a $64.3 billion (£48 billion) takeover offer from billionaire Bill Ackman's investment firm, Pershing Square.

UMG's board concluded that the bid

Universal Music Group Rejects Billionaire Bill Ackman's $64.3 Billion Takeover Offer

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