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Blackstone urges Hipgnosis shareholders to 'take no action' as it weighs response to Concord bid
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investmentweek.co.ukOn Wednesday (24 April), the board said it had agreed to the US-based music rights group's increased all-cash offer to acquire the portfolio at $1.25 per share, which values the trust at around $1.51bn. Concord's new offer, which represents a rise of around 7.8% on its previous bid, trumps Blackstone's offer to buy the trust's assets for $1.24 per share, or $1.5bn, announced over the weekend. Concord Music trumps Blackstone's bid for Hipgnosis Songs with raised $1.51bn offer Blackstone's latest remarks come as shareholders await its next move. Hipgnosis Song Management has the rig...
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