Global investment giant Blackstone said on Monday it would pay a penny more to take over Hipgnosis Songs Fund (HSF), the London-listed company that owns Red Hot Chili Peppers’ catalog, because in a revised takeover plan disclosed Monday it is paying less in advisory fees. In a joint announcement, Blackstone and HSF’s board of directors said they approved the offer paying $1.31 per share, which raises the overall value of the publicly traded arm of the music investment company to roughly $1.584 billion. While Blackstone beat rival bidder Concord to be in the leading position to take private HSF’s 65,000-song port
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