The Bolloré family group, controlling nearly a third of Universal Music Group shares, has dealt a significant setback to Bill Ackman's €55bn takeover attempt. The chief of the family group says the bid should be rejected, directly challenging the activist investor's pursuit of the music giant.

This opposition creates a major hurdle for Ackman's acquisition strategy. With such a substantial stake in hand, Bolloré's rejection effectively blocks the deal unless other shareholders rally behind the €55bn offer. The controlling shareholder holds considerable sway over any potential transaction.

The development raises fundamental questions about deal viability. Ackman now faces an uphill battle in securing necessary shareholder approval without Bolloré's support, making the €55bn offer increasingly difficult to execute.

This marks a critical inflection point in the takeover saga, demonstrating how controlling shareholders can derail even well-financed acquisition attempts when strategic interests diverge.