Universal Music Group reportedly discussed going private with buyout firms
APO•Universal Music Group reportedly held preliminary discussions with private equity firms earlier this year about going private. The talks have not progressed, and the company has not started a sale process.
1. Preliminary discussions
Universal Music Group management held preliminary talks earlier this year with private equity firms including Apollo Global Management, TPG and Blackstone, Bloomberg News reported, citing people familiar with the matter. The company’s board is aware of the discussions, but talks have not progressed and no sale process has started.
2. Earlier proposal rejected
The report comes months after Universal Music Group’s board unanimously rejected an unsolicited takeover proposal from Bill Ackman’s Pershing Square Capital Management.
