Get the latest gossip
Hipgnosis Songs Fund Board Backs Blackstone’s $1.6 Billion Acquisition Bid
Hipgnosis Songs Fund's board of directors now approve of Blackstone's revised $1.6 billion bid for its assets, reversing its stance on Concord's bid.
Blackstone saw Concord ’s most recent offer of $1.25 per share to acquire Hipgnosis Songs Fund and raised it a nickel to $1.30 on Monday, potentially putting a capper on a back-and-forth bidding war for the music rights company’s assets. Blackstone’s official bid arrives a week after the private equity giant made what it called a “possible offer” of $1.24 per share, or roughly $1.5 billion, on April 22. The London-listed fund owns rights to songs by Neil Young, Journey, Lindsey Buckingham, Red Hot Chili Peppers, Shakira, Blondie and other artists.
Or read this on Billboard
