By Jess Jones The board of Hipgnosis Songs Fund (HSF) has recommended a cash acquisition by American private equity giant Blackstone. Blackstone’s $1.30 (£1.04) in cash per share bid, which is higher than the $1.25 (£1.00) per sharerevised offer that came from Concord Music last Thursday, values Hipgnosis at about $1.57bn (£1.25bn). HSF’s board intends to recommend that shareholders accept the offer, saying it has “decided to withdraw its recommendation for the Concord Revised Offer”. It comes after Blackstone has reportedly been working on finalising a proposal to buy the music royalty invest…