Blackstone Increases Offer for Hipgnosis to $1.58 Billion
The revised bid aims to secure more shareholder support and expedite the acquisition process.
- Blackstone raised its offer for Hipgnosis Songs Fund by one cent to $1.31 per share.
- The new offer values Hipgnosis, owner of music rights for artists like Beyoncé and Shakira, at $1.58 billion.
- The deal is now structured as a 'scheme of arrangement,' requiring 75% shareholder approval.
- Apollo-backed Concord had previously withdrawn its $1.51 billion bid.
- Blackstone expects the transaction to close by June 14.
Reuters 
The Guardian 
Evening Standard 
