Did you listen to them side by side? The piano part isn't even remotely the same, not the same notes, not the same chords. The vocal melody changed in a few places. The EoE version goes through at least 2 more choruses before the singing starts, there's an added organ part that is missing from the new version. I'm trying to find where at the end it's note-for-note the same with the original and I'm not able to find it, the organ parts are completely different, new version missing the strings. The arrangement sounds similar, the 2 songs sound similar, but that's not enough to make a copyright claim on an arrangement. When someone plays and records Duke Ellington's arrangement of the Nutcracker suite, unless it's exactly the same thing, he doesn't have a claim. And that's because Nutcracker is public domain, if it was an arrangement of an already copyrighted work, Duke wouldn't even have that claim.
What claim does exist, however, is the original songwriter. Any new arrangement can't be sold without a Mechanical License. I don't know who owns these rights.