Having earlier agreed unanimously to a deal with Concord, Hipgnosis has indicated that its board now intends to recommend Blackstone’s proposal, should the private equity company announce a firm intention to make an offer, and that it is providing Blackstone access to conduct due diligence.
Blackstone had made prior offers for London-based Hipgnosis, which is backed by Apollo Global Management and holds ownership to song rights by artists including Blondie, the Red Hot Chilli Peppers and Neil Young.
Source: Private Equity Wire
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