Home » Blackstone Increases Purchase Offer for Hipgnosis Songs Fund to $1.58 Billion

Blackstone Increases Purchase Offer for Hipgnosis Songs Fund to $1.58 Billion

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Blackstone Increases Purchase Offer for Hipgnosis Songs Fund to $1.58 Billion

Blackstone will increase supply to accumulate music fund Hipgnosis to $1.58 billion

Blackstone has raised its buy supply for Hipgnosis Songs Fund, the British fund that holds the rights to songs from artists like Shakira, Blondie, and Red Hot Chili Peppers, to $1.58 billion. The acquisition is anticipated to shut on June 14, in response to a report back to the London Stock Exchange.

An entity backed by Blackstone, Bidco, introduced the choice to extend the acquisition proposal by $0.01 per share, totaling $1.31 in money. This improve within the supply was the results of discussions between the Bidco board and that of Hipgnosis, and it partly displays the music fund’s decrease advisory charges for the transaction than beforehand anticipated.

Following Concord Chorus, backed by Apollo Global Management, renouncing its buy supply for Hipgnosis, Blackstone is now free to maneuver ahead with the acquisition. Stay up to date with all the knowledge on Cinco Días by way of Facebook, Twitter, LinkedIn, or our e-newsletter Five Day Agenda. Subscribe to obtain unique financial info and probably the most related monetary information for you.

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