Ackman Bid for Universal Music Hinges on Vincent Bollore
Bill Ackman seeks backing from billionaire Vincent Bollore for a 64 billion dollar Universal Music bid. Analysts remain skeptical about the deal succeeding.
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The $64 billion bid for UNIVERSAL MUSIC GROUP NV by hedge fund manager Bill Ackman hinges on the support of French power broker Vincent Bollore. Ackman, the founder of Pershing Square Capital Management, initiated contact with the billionaire before launching the unsolicited proposal, later describing the response from the company's largest shareholder as "music to my ears."
"Without Bollore, we dont have a transaction."
