Concord says won't raise offer for Hipgnosis

Hipgnosis Songs Fund

09/05/2024 07:18

May 9 (Reuters) - Apollo-backed Concord on Thursday said
it will not raise its $1.25 per share offer for Hipgnosis Songs
Fund  SONG.L  days after Blackstone  BX.N  outbid it for the
owner of music rights of artists, including Shakira and Blondie.
    Blackstone sweetened its offer to $1.30 apiece or about
$1.57 billion in April, above Concord's bid and had won
Hipgnosis's board backing for the deal.
      
    

    

 (Reporting by Prerna Bedi in Bengaluru; Editing by Nivedita
Bhattacharjee)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))