Universal Music Group Rejects $65 Billion Takeover Bid from US Investment Firm
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Universal Music Group rejected a $65 billion takeover offer from American investment company Pershing Square on Friday. The music giant, which represents major artists including Ariana Grande, Billie Eilish and The Weeknd, said the bid "significantly undervalues" the company. UMG is one of the world's largest music companies, controlling a vast catalog of recordings and representing some of the industry's biggest stars across multiple genres.