| Songbird Estates shareholder Madison International Realty plans to accept Qatar Investment Authority’s offer for the British property company, the sovereign wealth fund behind the hostile move said. The offer of 350 pence per share for the owner of London’s Canary Wharf financial district was launched to Songbird shareholders by QIA and U.S. investor Brookfield Property Partners on Thursday.
In a statement on Monday QIA said that Madison had written a letter to Songbird saying it intended to accept the offer before its closing date. Madison holds a total of 18,627,054 Songbird shares, representing approximately 12 per cent of Songbird’s shares in free float and 2.5 per cent of Songbird’s issued ordinary share capital...............................................Full Article: Source
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