Don’t leave us hanging: Qatar and Brookfield “remind” Songbird shareholders to approve bid for Canary Wharf owner before deadline January 22, 2015 In what must be a last-ditch attempt to woo the shareholders of Songbird, Qatar Investment Authority and Brookfield have sent out an alert to "remind" them of the takeover bid for the Canary Wharf owner. The pair increased the offer from 295p per share to 350p per share last autumn, but Songbird urged its [...]
Tower Hamlets approves Canary Wharf’s plans for 3,600 homes December 22, 2014 Canary Wharf Group was yesterday given the go-ahead to convert a 20-acre site next to its east London estate into more than 3,600 homes, shops and offices targeting the fast-growing media and technology sector. Tower Hamlets council has approved regeneration plans for the semi-derelict area, which was formerly known as Wood Wharf because it was [...]
Qatar ups its offer for Canary Wharf owner Songbird Estates December 4, 2014 The Qatari sovereign wealth fund has upped its bid for Canary Wharf to 350p per share, after its earlier £2.2bn bid for Songbird Estates, its parent company, was rejected. A joint venture between the Qatar Investment Authority and Brookfield Property Partners originally tabled a bid of 295p per share for Songbird in November, valuing it [...]
Canary Wharf investor backs Songbird bid December 18, 2014 A MAJOR shareholder in Canary Wharf Group has written to the board of its controlling company, Songbird Estates, urging it to accept the takeover offer from its Qatari suitors. US asset manager Franklin Mutual Advisers holds a seven per cent stake in the east London estate alongside Songbird which controls a 70 per cent interest. [...]
Songbird bidders Qatar Investment Authority and Brookfield Partners will keep Canary Wharf’s management unchanged December 30, 2014 Qatar Investment Authority and Brookfield Partners will leave Canary Wharf's management unchanged if their £2.6bn bid for the group's majority owner Songbird Estates is successful, according to an official document released today. The bidding partners said they were "supportive of the management's current business plan and wish to retain the existing management." They said [...]
Canary Wharf owner Songbird keeps Rothschild as Qatari takeover bid adviser despite conflicts spat December 1, 2014 Canary Wharf owner Songbird yesterday categorically refused to drop Rothschild as its adviser on a takeover bid, despite claims that there is a conflict of interest at play. The Qatar Investment Authority (QIA) wants to increase its stake in Songbird and the Canary Wharf Group in a full takeover bid. Its representatives have [...]
Brookfield and Qatari sovereign wealth fund put in an offer for Canary Wharf owner Songbird Estates November 6, 2014 Qatar's sovereign wealth fund has partnerred with developer Brookfield Property Partners to make an approach for Songbird Estates, the owner of Canary Wharf. In a statement to the stock exchange this afternoon, Aim-listed Songbird confirmed Brookfield and the Qatar Investment Authority had approached it with an offer, adding that the Qataris already owned a 28.6 [...]
Qataris buy HSBC Canary Wharf headquarters in £1bn-plus deal December 15, 2014 THE QATARI sovereign wealth fund attempting a takeover of Canary Wharf Group owner Songbird Estates yesterday snapped up HSBC’s headquarters in the east London financial district. The Qatar Investment Authority (QIA) said it had completed its purchase of 8 Canada Square from the National Pension Service of Korea. Both parties declined to comment on the [...]
Qatar to raise bid for Canary Wharf owner Songbird Estates after £2.2bn offer rejected November 16, 2014 Qatar Investment Authority (QIA) and Brookfield Property Partners are close to tabling a higher takeover bid for Canary Wharf Group’s parent company, Songbird Estates, after their earlier £2.2bn offer was rejected. Songbird’s chairman David Pritchard rejected an initial approach 10 days ago, saying the 295-pence-a-share offer significantly undervalued the group. QIA, the sovereign wealth fund [...]
Third shareholder gets into bed with Qataris over Canary Wharf deal December 10, 2014 The Qatari sovereign wealth fund has persuaded yet another shareholder to back its 350p-a-share offer for Songbird Estates, the owner of Canary Wharf. The offer, from a joint venture between the Qatar Investment Authority and Brookfield Property Partners, has already had backing from Madison International Realty and Third Avenue Management. The latest expression of support, [...]