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
Hipgnosis Song Fund
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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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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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Hipgnosis hit with 26.3% reduction to portfolio valuation
NAV per share falls to $1.17 from $1.74 after independent valuation
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Hipgnosis shareholders back £20m offer to prospective buyers
99.9% of those who attended the EGM voted in favour
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Hipgnosis seeks indemnity from founder amid legal claims
While Mercuriadis has stood down as CEO of the trust’s investment adviser
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Hipgnosis offers £20m to entice prospective bidders
Investment adviser’s call option a ‘structural conflict’, the trust’s board said
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Hipgnosis reports 9.2% NAV drop as it narrowly beats results deadline
Driven by a reduction in the fair value of the portfolio
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Hipgnosis delays interim results over valuation concerns
Board raised concerns over independent valuer’s appraisal of the trust’s portfolio
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Hipgnosis and founder hit with legal claim over alleged ‘diversion of opportunity’
Claim made by Hipgnosis Music Limited
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Hipgnosis appoints former Round Hill directors to board
Robert Naylor named chair, while Francis Keeling appointed NED