Blackstone (BX) has taken the most favorable position in the battle to takeover Hipgnosis Songs Fund (HPGSF) after Apollo (APO) led Concord said it would not match the Blackstone’s $1.6B offer for Hipgnosis, Daniel Thomas of The Financial Times reports. Concord said it would not increase its offer of $1.25 per share for the group, which falls short of Blackstone’s $1.30 per share bid. Hipgnosis’ board has already backed Blackstone’s offer and withdrawn support for Concord’s bid.
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