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)
Proposed deal values Hipgnosis at $1.4bn – a 32.2% premium to its closing price last night (17 April)
Research house has retained its ‘buy’ rating
Also concludes HSF held a ‘conflicted position’ when recommending the sale of 29 catalogues to shareholders
The trust’s share price has collapsed by 65% from £1.61 to 56p over the last year
Bidder incentive fee vote comes amid the board’s allegations of ‘cherry-picking’ by Hipgnosis Songs Capital