Hipgnosis shares rise on striking $1.6 bln deal with Blackstone

Hipgnosis Songs Fund

29/04/2024 08:30

** Shares of Hipgnosis Songs Fund  SONG.L  up 2.3% at 106.2p
    ** US-listed Blackstone  BX.N  has agreed to acquire SONG
for about $1.57 bln
    ** BX trumps Nashville-based music firm Concord's previous
proposal and valued the shares of Hipgnosis at $1.30 apiece
    ** Board of the music rights investment firm withdrew its
recommendation for Concord's offer
    ** Shares of SONG rose ~48% in 2024



 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com;))