Kirkland & Ellis is advising Lyra Bidco Limited (Bidco), a newly-formed company indirectly wholly-owned by investment funds advised by affiliates of Blackstone Inc., on the revised recommended cash acquisition by Bidco of the entire issued, and to be issued, ordinary share capital of Hipgnosis. The Panel on Takeovers and Mergers has granted its consent under Section 8 of Appendix 7 of the City Code on Takeovers and Mergers for the acquisition to be implemented by way of a scheme of arrangement under Part VIII of the Companies Law. The revised offer values Hipgnosis' entire issued, and to be issued, ordinary share capital at approximately $1,584 million (which is equivalent to £1,272 million based on the Announcement Exchange Rate). The increase of $0.01 per Hipgnosis share from the acquisition price to the revised offer price has come about as a result of discussions between the Hipgnosis Board, Bidco Board and their respective advisers and in part reflects Hipgnosis incurring lower adviser fees in respect of the transaction than previously expected. Read the London Stock Exchange Announcement The Kirkland team is led by corporate partners Francesca Storey-Harris, Aprajita Dhundia and David Higgins and associates Chris Weale, Sam Salt, Joe Timmins and Dan Sarkin; and technology and IP transactions partners Seth Traxler and Rory Wellever and associate Michael James.