Blackstone offers nearly $1.6 billion for Blondie and Shakira catalogs

The American Fund Blackstone announced an enhanced takeover offer of nearly $1.6 billion on Monday. by the British music catalog fund Hipgnosis Songs Fund (HSF), owner of titles by Shakira and blondie.

The two companies “have reached an agreement on the terms and conditions of an all-cash acquisition,” Blackstone announced in a statement.

At $1.30 per share, the offering values ​​HSF's equity at approximately $1.57 billion.

The fund, created jointly by legendary musician Nile Rodgers and Merck Mercuriadis, former manager of Beyoncé and Elton John, manages the rights to about 150 music catalogs.

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