Qatar Investment Authority and Brookfield plan to raise offer after initial approach rejected, according to report
The Qatar Investment Authority and Brookfield Property Partners are preparing to raise their offer to take over Songbird Estates, the investment group that owns Canary Wharf Group, after their initial approach was immediately rejected on Friday.
The bidders are expected to increase their offer from the 拢2.2bn offer at 295p a share for Songbird that was made public on Thursday.
It was immediately rejected by Songbird鈥檚 board, whose chairman David Pritchard said it 鈥渟ignificantly鈥� undervalued the company.
The Qatar Investment Authority already owns 28.6% of ordinary shares in Songbird Estates.
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