Copyright owner of Beatles, Backstreet Boys' songs leaps on $469 mln buyout offer

Round Hill Music Royalty Fund

08/09/2023 08:37

** Shares of Round Hill Music Royalty Fund  RHM.L  climb
61.5% to a record high of $1.11 
    ** The music copyright-focused investment firm agrees to
$468.8 mln buyout offer from Alchemy Copyrights
    ** Under the deal, RHM shareholders will get $1.15 per share
in cash, representing a premium of 67.3% to RHM's last close 
    ** "We see this offer as highly likely to be successful,"
Jefferies analysts say 
    ** Stock is top pct gainer across London shares; on track to
log record intraday gains, if trend holds 
    ** Shares of Hipgnosis Songs Fund  SONG.L , the rights owner
to catalogues of artists Neil Young and Shakira among others, up
9.5% 
    ** Attention will now inevitably turn to SONG ... a larger
vehicle, with arguably a more iconic music portfolio, Jefferies
adds
    ** RHM stock up 47% this year, including session's gains 
   
   

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