Universal Music Group N.V. (UMG.AS) on Thursday said it has repurchased about 14.16 million shares from Pershing Square funds at €17.66 per share for a total consideration of about €250 million.
The transaction follows Pershing Square's exit from UMG after the company rejected its takeover proposal in April 2026.
UMG said the buyback was executed outside its existing €500 million share buyback program, but under an additional €500 million share repurchase authorization announced earlier.
UMG said it intends to use the repurchased shares for employee equity plans and/or to reduce its share capital.
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