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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Qatar bid doesn’t hit the right note for Songbird

Posted on 11 November 2014

Canary Wharf majority stake holder, Songbird, has rejected a £1.6bn joint take over bid from the Qatari Sovereign Wealth fund and American Property Firm, Brookfield Property Partners. News of a potential deal broke at around lunchtime last Thursday with Songbird chairman David Pritchard initially saying:
“The board of Songbird will consider this approach in light of what is in the best interests of the shareholders in the company as a whole and in the meantime Songbird shareholders are advised to take no action.” However Songbird, which owns 69% of Canary Wharf and surrounding buildings, announced on Friday that it had rejected the Qatari bid………………………………………..Full Article: Source


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