Universal Music's board has rejected Pershing Square's (PS) takeover proposal after determining that the offer undervalued the company and would not deliver superior value creation, the music company said Friday.
Pershing Square declined to comment to MT Newswires.
Price: 38.92, Change: +0.31, Percent Change: +0.79
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.