Deals
Qatar Says Holders of 28% of Songbird’s Free Float Back Bid
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A bid for Songbird Estates Plc, owner of London’s Canary Wharf financial district, by Qatar Investment Authority and Brookfield Property Partners LP is supported by investors holding 28 percent of the company’s shares that are actively traded.
Madison International Holdings, owner of 12 percent of the free float, said it will accept the 350-pence-a-share bid, selling its 2.5 percent stake, according to a statement today from Qatar. Songbird, which owns 69 percent of Canary Wharf Group Plc, said last week the offer doesn’t reflect the full value of the company.