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
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Trust’s board has recommended the bid and withdrawn support for Concord Music’s offer
Analysts said the bid may test the strength of HSM’s call option
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
Agreement for sale to US-based Concord was announced on 8 September
Shareholders will receive $1.15 per share (92p) if the transaction is completed