# Bill Ackman's Pershing Square proposed a deal on Tuesday to merge Universal Music Group with its investment fund.

*business · news · 2026-04-07 · The Economic Times*

## Key points

- Pershing Square proposed merging Universal Music Group with its investment fund for a US listing.
- The offer values UMG at 30.40 euros per share, a 78% premium over last close.
- Michael Ovitz would become board chairman with two Pershing representatives joining UMG's board.
- UMG shareholders would receive 9.4 billion euros cash and 0.77 shares in the new company per share.

**Companies:** Universal Music Group, Pershing Square, Bollore Group, Vivendi, Tencent Holdings
**Countries:** United States, France, China, Netherlands

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/markets/us-stocks/news/bill-ackmans-pershing-square-proposes-64-billion-merger-deal-with-universal-music-group/articleshow/130089356.cms)

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