Hipgnosis shareholders approve $1.58bn sale to Blackstone
99.97% of votes cast were in favour of the deal
99.97% of votes cast were in favour of the deal
Bidco initially revised its offer for SONG on 3 June
While the bid will now be executed via a scheme of arrangement
Following Blackstone’s $1.57bn counter offer
The major shareholder reduced its position after the share price leapt 48.4%
Trust’s board has recommended the bid and withdrawn support for Concord Music’s offer
The firm is now offering $1.25 per Hipgnosis share, topping the potential Blackstone offer by a single cent
JOHCM’s share disposal reduces ‘irrevocable undertaking’ support bid down to 23.1%
Trust’s board said it would be minded to recommend the proposal to shareholders if a firm offer was made
Bidder incentive fee vote comes amid the board’s allegations of ‘cherry-picking’ by Hipgnosis Songs Capital