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Canary Wharf owner Songbird succumbs to QIA-led takeover

Reuters - UK Focus

LONDON, Jan 28 (Reuters) - Canary Wharf owner Songbird Estates recommended its minority shareholders accept an offer from Qatar Investment Authority and Brookfield, as it has the backing of the holders of 86 percent of its shares.

Qatar Investment Authority (QIA) and its bidding partner, U.S. investor Brookfield Property Partners, launched a 350 pence-a-share offer direct to Songbird shareholders in December, valuing the company at $4 billion.

Songbird said however it still believed the offer undervalued the group,

(Reporting by Paul Sandle; editing by Kate Holton)