By Ian Walker
Round Hill Music Royalty Fund has reached an agreement with Alchemy Copyrights, trading as Concord Cadence, for a $468.8 million takeover, the company announced on Friday.
As part of the deal, shareholders of the London-listed music copyright owner and operator will receive $1.15 in cash for each share they hold. This offer represents a significant 67% premium to the previous day's closing price of 69 U.S. cents.
In addition to the cash payout, accepting shareholders will also be entitled to the quarterly dividend of $0.01125 per share for the period ending June 30, as well as a special dividend of $0.005 per share to be declared prior to the completion of the deal.
"The board is delighted to offer this opportunity for liquidity, providing shareholders with a premium over the share price and IPO price, while also being in close alignment with the economic net asset value per share. This recommended offer reflects exceptional value for our shareholders," stated Chairman Robert Naylor.
Our Latest News
BioNTech and Autolus Therapeutics Enter Strategic Collaboration
BioNTech and Autolus Therapeutics have announced a strategic collaboration to advance cell therapy programs and expand opportunities in the field of cell therap...
Bitcoin and Cryptocurrencies Surge to Highest Levels Since ETF Approval
Bitcoin and other cryptocurrencies surge to their highest levels since the approval of spot Bitcoin ETFs, driven by positive sentiment in the stock market and f...
McCormick Stock Drops as China Sales Suffer
McCormick's stock drops after Q3 revenue falls short due to slow sales in China. Total sales still increase, driven by a price hike. McCormick maintains sales o...