Friday 7 November 2014

BBC News - Canary Wharf owners reject Qatar bid

BBC News - Canary Wharf owners reject Qatar bid:



"The owners of Canary Wharf, Songbird Estates, have rejected a joint takeover bid from the Qatar Investment Authority (QIA) and a US investor, Brookfield Property Partners.



Songbird's chairman, David Pritchard, said the offer of 295p a share "significantly undervalues" the firm.



QIA already owns 28.6% of Songbird, while Brookfield has a 22% stake in Canary Wharf Group."



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