Mercuriadis departure has 'zero bearings' on Hipgnosis Songs shareholders

No change to terms of Blackstone deal

The departure of Hipgnosis Song Management (HSM) founder Merck Mercuriadis is unlikely to have any major implications for Hipgnosis Songs fund (SONG) shareholders, analysts have argued.

HSM, the investment manager of SONG, said on Tuesday (2 July) that the former chief executive and founder of the company would be stepping out as chair once the takeover deal by private equity giant Blackstone is completed.  Matthew Read, senior analyst at QuotedData, said the announcement about Mercuriadis' future plans has "zero bearing" on SONG shareholders, as it made no change to the Blackstone deal. "The portfolio is being sold and this latest announcement from HSM does not change that, or the price that is being paid," he added.  Merck Mercuriadis to step down as chair of Hi...