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Blackstone strikes chord with $1.6 bn bid for UK music firm
Blackstone strikes chord with $1.6 bn bid for UK music firm
Economy
by  AFP

Struggling UK music rights owner Hipgnosis Songs Fund agreed Monday to an improved $1.6-billion takeover from US private equity firm Blackstone, which trumped a rival bid from Concord. "Blackstone appears to have emerged supreme in the bidding war for the Hipgnosis Songs Fund," commented Susannah Streeter, head of money and markets at Hargreaves Lansdown.