By Ian Walker
Hipgnosis Songs Fund, home to the catalogue of artists such as Neil Young, Shakira and Red Hot Chili Peppers, has agreed to an improved $1.57 billion takeover by Blackstone, trumping a rival bid from Apollo-backed music company Concord Chorus.
Hipgnosis said Monday that accepting shareholders will get $1.30 in cash for each share held compared with $1.25 under the Concord offer agreed to on April 24, and Blackstone's previously indicated offer of $1.24.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
04-29-24 0232ET