QIA wins $4 bn bid for London’s Canary Wharf owner Songbird
A Qatari-led consortium looked set to win its long-running battle to buy Songbird Estates on Wednesday after the owner of London’s Canary Wharf business district dropped its opposition to the $4 billion offer.
Songbird said it still thought the price undervalued its properties but with no rival bid forthcoming and holders of 86 percent of the shares backing the deal, it said minority investors should accept.
The Qatar Investment Authority (QIA) and its bid partner launched a 350 pence-per-share offer direct to Songbird shareholders in December, hoping to add a financial district rivaling the City of London to landmarks already in its portfolio such as the Shard skyscraper and Harrods department store.
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Source News: Qatar Tribune
