iWorld
OnMobile wins HR Best Practice award at HR Showcase 2015
MUMBAI: OnMobile Global has won the HR Best Practice award for its “Developing capability from within – OnMobile Learning Academy” initiative, at the HR Showcase 2015 organized by National Human Resource Development Network, Bangalore.
The HR team at OnMobile works on a mission “To make motivated talent available for the organization.” In order to fulfil this mission, the company launched a unique initiative called OnMobile Learning Academy (OLA), which addresses the need for organisational productivity as well as people’s professional development and employability.
Adoption of this new approach has already started paying dividends for OnMobile. Over the last year employee productivity as defined by ratio of revenue to manpower cost, has gone up by 20 per cent, along with a 16 per cent increase in employee satisfaction scores.
OnMobile CEO and MD Rajiv Pancholy said, “I am delighted that we have won the HR Best Practice Award for OnMobile Learning Academy. Our endeavour has been to lead the company through a journey of cultural transformation while focusing on capability building and productivity enhancement. This award bears testimony to the progress we have made in this direction. We will continue to invest in our employees and build their capabilities while we pursue plans to grow OnMobile.
iWorld
Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
