Hipgnosis and Bidco boards move one step closer towards revised acquisition deal
Bidco initially revised its offer for SONG on 3 June
SONG
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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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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)
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Investors lose over £200m in a year as the price of Hipgnosis Songs Fund collapses
The trust’s share price has collapsed by 65% from £1.61 to 56p over the last year