LONDON – Hold onto your hats, folks! That iconic music giant, Round Hill Music Royalty Fund – you know, the one with the golden chest of Beatles tunes? – watched their shares skyrocket by a whopping 67% this past Friday. Why the buzz? Well, Alchemy Copyrights dangled a tempting $496 million carrot in front of them. Talk about making some noise in the market!
By the time Big Ben chimed 0753 GMT, shares were dancing at $1.125, having earlier twirled to a record-smashing $1.15. It’s like they were rocking to their own hit parade!
Jefferies, donning their fortune-teller hat, hinted that Alchemy’s pitch might just hit the sweet spot. Even if it’s a bit of a bargain, it seems like this deal’s got legs. Round Hill’s shareholders are looking at a cool $1.15 cash per share. Okay, so it’s a touch below the NAV’s tune of $1.30 as of September 8, but still, not too shabby.
Now, here’s the kicker! Round Hill isn’t dancing solo. Shares in the Hipgnosis Songs Fund – yep, the bigwigs behind Shakira’s hip-shaking hits and Neil Young’s timeless classics – boogied up by a solid 16.5%. Sitting pretty atop the FTSE 350, they’re grooving to their own record-beat today. Jefferies, still with an ear to the ground, reckon it’s because they’re in the same boat as Round Hill, but with a beefier playlist of iconic tunes. Rock on!
So, whether you’re a die-hard Beatles fan or just love a good stock market tune, it seems music’s the word on Wall Street’s lips today. Let’s see where this rhythm takes them! 🎵🎸📈