Hipgnosis shareholders approve $1.58bn sale to Blackstone
99.97% of votes cast were in favour of the deal
Hipgnosis
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Merck Mercuriadis to step away from Hipgnosis Song Management
Founder and chair will step away upon completion of Hipgnosis Song Fund’s sale to Blackstone
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Hipgnosis and Bidco boards move one step closer towards revised acquisition deal
Bidco initially revised its offer for SONG on 3 June
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Blackstone increases Hipgnosis offer to £1.27bn
While the bid will now be executed via a scheme of arrangement
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Concord Music will not improve $1.51bn Hipgnosis bid
Following Blackstone’s $1.57bn counter offer
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J O Hambro sells 14.9m Hipgnosis shares
The major shareholder reduced its position after the share price leapt 48.4%
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Blackstone hits back in Hipgnosis bidding war with £1.26bn counteroffer
Trust’s board has recommended the bid and withdrawn support for Concord Music’s offer
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Stifel: Concord Music ‘calls Blackstone’s bluff’ over call option
Analysts said the bid may test the strength of HSM’s call option
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Concord increases Hipgnosis bid to $1.51bn
The firm is now offering $1.25 per Hipgnosis share, topping the potential Blackstone offer by a single cent
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Hipgnosis Song Management: Board has ‘no legal grounds’ to terminate relationship
JOHCM’s share disposal reduces ‘irrevocable undertaking’ support bid down to 23.1%
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Blackstone launches £1.2bn rival bid for Hipgnosis Songs
Trust’s board said it would be minded to recommend the proposal to shareholders if a firm offer was made
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Concord to buy entire issued share capital of Hipgnosis
Proposed deal values Hipgnosis at $1.4bn – a 32.2% premium to its closing price last night (17 April)