UMG buys back over 630 000 shares as $590m programme begins

The €500 million (about $590m) repurchase plan, announced at the end of March, marks the first such initiative by the company. UMG has since begun disclosing its buybacks on a weekly basis.

According to the latest update, the company initially acquired 231 142 shares listed on Euronext Amsterdam for approximately €3.89 million. A further 400 000 shares were subsequently repurchased for €7.76 million, bringing the total number of shares bought back to more than 630 000.

Despite the activity, only around 2% of the total programme value has been deployed so far.

The repurchases have taken place amid fluctuations in UMG’s share price. The company bought shares at an average of €16.84 between 1 and 2 April, before paying closer to €20 per share between 6 and 10 April. Shares later traded at around €19.33, reflecting a partial recovery from lows recorded in late March.

However, the current price remains below levels seen in mid-2025, when shares were trading at approximately €28.

The recent movement in UMG’s stock has coincided with broader corporate developments, including a takeover approach by investment firm Pershing Square Capital Management. The proposal, reportedly valued at $64 billion, remains under review.

UMG confirmed receipt of the offer but declined to comment further, stating it would “have no further comment on the proposal until the Board of Directors completes its review.”

Separately, Pershing Square has announced plans for a US initial public offering involving a new investment vehicle, Pershing Square USA, alongside Pershing Square Inc., which would serve as the parent company.

The proposed IPO aims to raise between $5 billion and $10 billion, with additional private-placement commitments already secured.

Pershing Square founder Bill Ackman said the new entity would invest alongside the firm’s existing funds.

“PSUS is designed to invest side-by-side with Pershing Square’s existing core funds in a concentrated portfolio of publicly traded companies that we assist in maximising shareholder value by working with management to accelerate growth, increase efficiency, improve capital allocation, manage through challenges and otherwise improve performance in order to generate long-term value,” Ackman said.

The outcome of both UMG’s buyback programme and the takeover proposal remains uncertain as market and corporate developments continue.