02:03 PM EDT, 04/24/2024 (MT Newswires) -- (Updates with additional details in the second and third paragraphs.)

Concord Chorus is considering boosting its offer for Hipgnosis Songs Fund to about $1.25 per share from $1.16 in an attempt to outbid Blackstone (BX), Bloomberg reported Wednesday, citing unnamed people with knowledge of the matter.

The news comes days after Hipgnosis Songs Fund said it is reviewing, and plans to recommend Blackstone's $1.24 per share proposal.

Talks are underway and the revised Concord proposal could be announced in the coming days, the report said.

Blackstone, Concord Chorus, and Hipgnosis Songs Fund did not immediately respond to MT Newswires' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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