Concord Officially Calls Off Bid for Hipgnosis Songs Fund ...Middle East

Concord confirmed on Thursday it will no longer proceed with its $1.51 billion offer to buy Hipgnosis Songs Fund, giving rival bidder Blackstone a now unimpeded path to acquire the Merck Mercuriadis-founded company and its catalogs of the Red Hot Chili Peppers, Journey, Neil Young and others. The filing with the London Stock Exchange, which stated that Concord has been released from the terms of its bid, was expected after the Nashville-based music company said it would not raise its offer to compete with Blackstone’s $1.57 billion bid announced on April 29. Nonetheless, it means the $1-trillion global asset man

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