Tag: Ackman

Ackman Music Deal Spurs Pushback From Vivendi Shareholder

Vivendi SE shareholder Artisan Partners is opposing the company’s plan to sell bits of its prized asset, Universal Music Group, including a proposed deal with a blank-check firm backed by billionaire Bill Ackman.

The move adds pressure on Vincent Bollore’s French media group before shareholders are set to meet on June 22 to vote on a plan to spin off 60% of the world’s biggest music company.

“Selling off pieces of UMG to other investors in return for cash is a sub-optimal capital allocation decision,” Artisan portfolio manager David Samra said in a statement to Bloomberg. “We would prefer that

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