Well, rejected for now, it’s fair to say: there’s likely to be a period of negotiation for Jay-Z’s Project Panther Bidco to try to win round the 10% of minority shareholders in Aspiro, with a deadline of 11 March to reach an agreement. 

Project Panther bid $56m for the parent company of WiMP and Tidal in late January, and swiftly won the approval of the company’s board and majority shareholders. But the minority shareholders banded together and claimed in February that the bid may have undervalued Aspiro. With Jay-Z having so far remained silent about his ambitions for the company, we’ll have to wait and see whether he judges it worth upping his offer.

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