Hipgnosis founder hits back at naive criticisms
Merck Mercuriadis accuses analysts at broker Stifel of trying to put a spotlight on themselves by raising questions about FTSE 250 company
Hipgnosis founder Merck Mercuriadis with Nile Rodgers of Chic - a member of the company s advisory board
The boss of Hipgnosis has branded a leading broker naive and obtuse after challenging how the music investment fund valued its song books.
Merck Mercuriadis said analysts at Stifel were trying to get a spotlight put on themselves by downgrading the FTSE 250 company amid concerns over its buying spree.
The American broker has shifted the deal-hungry fund from positive to neutral after questioning why its song books secured bumps in valuation shortly after being bought.