Proactive Investors - Hipgnosis Songs Fund Limited (LON:SONG) has agreed terms on another, high cash offer from Blackstone (NYSE:BX).
This one is priced at US$1.30 in cash, equivalent to 104p, and is up five cents on a second rival offer last week from record company Concord and six cents from a previous Blackstone offer a week ago.
Directors intend to unanimously recommend this offer, so have withdrawn their unanimous recommendation of last week's Concord offer.
FTSE 100 tipped for another new high
FTSE 100 was being called higher again on Monday after the spate of record-breaking in the past seven days.
Financial spread betters had London's blue-chip index adding around 40 points in early trades driven by expectations of another good week on the earnings front.
Week ahead: Shell (LON:SHEL), Next (LON:NXT) and a heap of blue chip earnings
A host of big names report both in the UK and US and if recent updates are a guide, any surprises should be on the upside.
Strong gains this morning in Asia should add to the good mood when the market opens in London.