00:00American billionaire Bill Ackman has made the 56 billion euros pitch for Universal Music Group,
00:05the home of artists like Taylor Swift and Drake. The activist investor is proposing a complex deal
00:10to merge Universal with a blank check company set up by himself. So why is he doing this? As a
00:16Universal investor is not happy with its performance on the markets and wants to change that. It could
00:21seem odd that Universal Music Group is based in Amsterdam when his CEO works from Los Angeles and
00:27the company's decision making is very US centred. Ackman would shift the company listing to New York,
00:32which is a goal he's had for a long time. But one man would be key to see if the
00:36deal can go through.
00:37It's French tycoon Vincent Bolloré. Bolloré and his family ultimately control companies that together
00:43hold about 28% of the stock. Ackman essentially says the group is not managed well and in full
00:49transparency and that there is no clarity of what Bolloré is going to do with his stake. Ackman
00:55would change management and says his plan would generate 15 billion euros for the next five
01:00years for investment and acquisitions. Bolloré has so far remained a very discreet investor in
01:05Universal Music Group and his own son, Cyril, has left the board last year. Now everyone wonders
01:10what he will say about Ackman's offer.
Comments