Hipgnosis takeover saga is coming to an end

The Hipgnosis Songs Fund (LSE:SONG) takeover saga appears to be reaching a conclusion, with the Blackstone investment group now expected to take the spoils.

It comes after it was announced today that rival bidder Concord would not increase its previous offer, which was pitched at $1.25 per share.

Blackstone higher $1.30 per share bid should therefore be sufficient to capture Hipgnosis, which holds the rights to a catalogue of pop and rock artists including Ed Sheeran, Lady Gaga and Fleetwood Mac.

It looks set to give investors a welcome exit after several months of uncertainty and volatility.