Ackman 64 Billion Dollar Universal Bid Hinges on Bollore
Bill Ackman needs support from Vincent Bollore for a $64 billion Universal Music bid. Bollore controls 32% of the company and has the power to block the deal.
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Bill Ackman’s ambitious $64 billion bid for UNIVERSAL MUSIC GROUP NV rests heavily on the decision of a single power broker: French billionaire Vincent Bollore. The United States-based hedge fund manager revealed that his first action before launching the unsolicited proposal was to contact Bollore, whose support is essential for any transaction involving the music giant.
