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Sources: Bill Ackman proposes merging UMG with his SPAC and naming Michael Ovitz as chair, an offer UMG is likely to reject; UMG stock is down 20% since 2021 (Lucas Shaw/Bloomberg)

Mediagazer · last updated

Lucas Shaw / Bloomberg:
Sources: Bill Ackman proposes merging UMG with his SPAC and naming Michael Ovitz as chair, an offer UMG is likely to reject; UMG stock is down 20% since 2021  —  Bill Ackman has offered to buy Universal Music Group.  What he really wants is for the stock to go up.

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