Blackstone says its latest Hipgnosis Songs Fund offer is final. The offer was for $1.31 per share, valuing share capital at $1.584 billion.
Blackstone doesn’t intend to increase its latest offer to acquire Hipgnosis Songs Fund , the London-listed investment trust it first launched a takeover bid for on April 20. The private equity firm said in a regulatory filing Tuesday that the financial terms of itsThe announcement appears intended to thwart any attempts by opportunistic investors to extract a higher offer from Blackstone.
A purchase by Blackstone would bring an end to the six-year-old HSF and the turbulence of recent years. Launched as a pure-play investment in the safety of classic music copyrights, HSF was hit by a stagnant share price that hurt its ability to raise cash for additional acquisitions. Financial mishaps — such as an errant royalty accrual that caused the company to
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