Universal Music Shareholder Fires Back at Bill Ackman’s $65 Billion Takeover Bid: “The Price Is Not There”

Bill Ackman’s massive bid for Universal Music Group just ran into what may be its biggest obstacle yet.

And it might be a deal-breaker.

A major Universal Music shareholder publicly pushed back against Ackman’s proposed $64–65 billion acquisition effort, arguing the offer significantly undervalues the world's largest music company and simply isn't attractive enough to support.

The criticism came from Cyrille Bolloré, whose family controls one of the largest positions in Universal Music Group through both direct ownership and related holdings. Combined with additional influence from associated ownership stakes, the Bolloré camp potentially controls enough voting power to make or break the deal.

His message was not subtle.

"We think the price is not there at all," Bolloré said during a shareholder meeting while openly encouraging Universal management to reject the proposal.

The comments represent the strongest public resistance yet against Ackman's aggressive attempt to acquire Universal Music.

Ackman's proposal through Pershing Square Capital Management values Universal at roughly $64–65 billion and includes both cash and stock. His broader vision reportedly goes beyond simply buying the company. The plan would move Universal's listing from Amsterdam to the United States and restructure portions of its assets, including its Spotify stake.

But Bolloré questioned more than the price.

He reportedly criticized the financing structure itself, arguing Ackman was effectively relying on Universal's own financial resources rather than bringing enough outside capital to justify the proposal. He also questioned whether the deal made long-term strategic sense for the company.

The irony is that Ackman himself previously acknowledged the situation.

Months earlier, he admitted: "Without Bolloré, we don't have a transaction."

That statement suddenly looks much more important.

Universal Music remains one of the entertainment industry's most powerful assets, controlling catalogs and artists across global music, streaming, publishing, merchandising, and increasingly AI-related initiatives. The company recently expanded partnerships around AI music tools and continues betting heavily on long-term growth opportunities.

For now, the takeover proposal technically remains alive.

But when one of your largest shareholders publicly says the offer should already be considered rejected, that is usually not the momentum buyers hope for.