The news was announced in a statement to the market on Thursday (May 16) Source
The bidding war first broke out on 18 April, after Concord initially offered $1.4bn for the portfolio of the music rights trust.
The race to acquire UK-listed Hipgnosis Songs Fund has taken a turn today (May 9) as Concord announces that it will not raise its latest offer – leaving global investment firm Blackstone as the frontrunner in the ongoing takeover battle. The bidding war for Hipgnosis Songs Fund (HSF), a company boasting a vast music catalog, … Continued Source
The five biggest stories to hit our headlines over the past seven days Source