Blackstone Proposes $1.5 Billion Bid for Hipgnosis Songs Fund

The music royalty fund faces a competitive takeover battle with multiple high-value bids from major investors.

Blackstone's latest $1.5 billion bid surpasses previous offers, aiming to secure control of the Hipgnosis Songs Fund.
Hipgnosis Songs Fund's board expresses preference for Blackstone's offer, pending official confirmation.
Rival bids from Concord and BMG add complexity to the takeover scenario, with BMG's interest reportedly waning.
Shareholders and the market react positively to the bidding war, with Hipgnosis' share price showing significant gains.
Legal and contractual disputes arise as Hipgnosis Songs Management defends its advisory role amid takeover negotiations.