Bolloré SE Rejects Bill Ackman’s €64 Billion Bid For Universal Music Group

Cyrille Bolloré, CEO of Bolloré SE, has publicly opposed Bill Ackman’s proposed €64 billion takeover bid for Universal Music Group (UMG), arguing that the offer significantly undervalues the company and depends excessively on UMG’s own financial resources.

According to media reports, Bolloré made the remarks during Bolloré SE’s annual shareholder meeting, where he criticised Pershing Square Capital Management’s funding structure behind the proposal. He reportedly stated that the bid was “not an offer with his own money,” adding that it relied on “the company’s money.”

The comments mark the first major public reaction from a significant UMG shareholder regarding Ackman’s takeover attempt.

Vincent Bolloré currently owns an 18.4% stake in UMG, while Vivendi holds an additional 13.4% share in the music giant.

Reports further suggest that Bolloré SE may be open to divesting a smaller portion of its holdings, but only if the valuation is substantially higher. Cyrille Bolloré reportedly indicated that a share price in the range of €27–28 could make a partial sale worth considering, signalling the group’s expectations around UMG’s market value.