Universal Music rejects takeover bid from Pershing Square

Entertainment giant Universal Music Group (UMG) on Friday rejected an investment and restructuring proposal from US hedge fund Pershing Square put forward in early April. The bid by activist investor Bill Ackman would have increased Pershing Square’s stake in the music label, home to Taylor Swift, Bad Bunny, The Weeknd and Sting, to just under […] The post Universal Music rejects takeover bid from Pershing Square appeared first on Digital Journal.