Hipgnosis Songs Agrees to Improved $1.58 Billion Takeover by Blackstone
By Ian Walker
Hipgnosis Songs Fund--home to the catalog of artists such as Neil Young, Shakira and Red Hot Chili Peppers--has agreed to an improved $1.58 billion takeover bid by Blackstone.
Under the deal, accepting shareholders will get $1.31 in cash for each share held, the companies said on Monday. This compares with $1.30 a share agreed to on April 29 and is a 49% premium to Hipgnosis' share price of 71 pence on April 17, the day before the company started the offer period.
The companies said that the increase partly reflects lower adviser fees than had previously been expected.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
June 03, 2024 02:43 ET (06:43 GMT)
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