Universal Music Group Said to Have Explored Privatization with Private Equity Firms Including Blackstone

Deep News10-27 07:42

Universal Music Group held preliminary discussions with several private equity firms earlier this year regarding a potential privatization, according to people familiar with the matter.

The music company's management engaged in initial talks with private equity firms including Apollo Global Management, TPG, and Blackstone Group LP, the report said.

The sources indicated that the negotiations did not progress and Universal Music has not initiated a sale process.

The company's board is aware of these discussions.

Several months ago, Universal Music's board unanimously rejected an unsolicited takeover offer from Bill Ackman's Pershing Square Capital Management.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment