Qatar: Songbird bid
Issue 983
- 11 Dec 2014
| 1 minute read
The Qatar Investment Authority (QIA) is still seeking to buy Songbird Estates, which manages London’s Canary Wharf Group, after its initial offer was rejected for being too low. The QIA and Brookfield Property Partners, through their 50:50 venture Bidco, made a final cash offer on 4 December, offering 350p per share directly to shareholders. The new bid valued the company at around £2.6bn ($4.1bn), considerably more than the previous offer of 295p a share.
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