LONDON (CelebrityAccess) — Following the information that personal fairness large Blackstone had made a proposal to purchase the music IP funding car Hipgnosis Songs Fund Ltd., Harmony has elevated its personal bid to $1.51 billion.
A regulatory submitting on Wednesday revealed that Harmony has agreed to amass London-listed Hipgnosis for $1.25 a share. That’s up from its beforehand agreed bid worth of $1.16 per share.
As a part of the submitting, Hipgnosis mentioned its board members unanimously advocate that shareholders vote to assist the bid from Harmony.
JPMorgan Chase & Co. continues to advise Harmony on the deal, whereas Hipgnosis is suggested by Shot Tower Capital, who supplied a brand new estimate for the corporate’s portfolio late final 12 months, and Singer Capital Markets.
