Music rights investor Concord increased its takeover bid for Hipgnosis Songs Fund Ltd. to $1.51 billion, trumping a rival proposal from Blackstone Inc.
Concord has agreed to acquire London-listed Hipgnosis for $1.25 a share, it said in a regulatory filing Wednesday, confirming an earlier Bloomberg News report. That’s up from its previously agreed bid of $1.16 per share. Hipgnosis said its board continues to unanimously recommend shareholders vote in favor of the Concord deal.
The revised bid from Nashville-backed Concord, which is backed by Apollo Global Management Inc., is just above Blackstone’s latest proposal of $1.24 per share. It represents a 43% premium to Hipgnosis’ closing price on the last trading day before Concord’s earlier offer was announced.
Hipgnosis owns song catalogs from Blondie, the Kaiser Chiefs and the Red Hot Chili Peppers. JPMorgan Chase & Co. is advising Concord on the deal, while Hipgnosis is working with Singer Capital Markets and Shot Tower Capital.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
