Hipgnosis Songs Fund Agrees $1.4bn Sale to Concord Chorus ...Middle East

After a disastrous couple months, Hipgnosis Songs Fund (HSF) has agreed to a $1.402 billion takeover from rival Concord Chorus. In a statement issued early Thursday (April 18) to the London Stock Exchange, the deal values each Hipgnosis share at £0.93, a premium of roughly one third the royalty fund’s shareprice at the close of trading on Wednesday. “The board is pleased to announce and unanimously recommend this US$1.4 billion offer for Hipgnosis from Concord,” comments Robert Naylor, chairman of Hipgnosis. The acquisition, he continues, “represents an attractive opportunity for our shareholders to immediately re

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