Hipgnosis sets out timeline for $1.58bn Blackstone deal

Extra £250,000 per director

Hipgnosis Songs fund (SONG) has set out a timeline for the approval and completion of the sale of the trust to Blackstone for $1.58bn.

In a stock exchange notice on Friday (14 June), SONG explained how shareholders will be required to vote for the deal via a court and general meeting on 8 July 2024. The court meeting will happen first, where at least 75% of voting rights held by shareholders will need to be cast in favour of the deal for it to go ahead. If this is passed, a resolution to sell the trust to Blackstone will then be put to shareholders shortly after the court meeting on the same day. Blackstone ups Hipgnosis bid to $1.58bn Subsequently, the sale will also require a court sanction at the court heari...