Apr 21, 2024
Hipgnosis Plans to Recommend Blackstone Bid If Offer Is Made
Bloomberg News
,(Bloomberg) -- Hipgnosis Songs Fund Ltd. intends to recommend Blackstone Inc.’s $1.24 per share cash proposal to its shareholders should the private equity firm announce a firm intention to make an offer on those terms, according to an e-mailed statement from the company.
Hipgnosis says there is no certainty a firm offer will be made by Blackstone, and currently continues to back Concord Chorus Limited’s offer.
Blackstone made an improved fourth proposal on Saturday for Hipgnosis, which was about 7 percent higher than rival bidder Concord.
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