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Qatari-led group set to win bid for London's Canary Wharf

Owner Songbird Estates has dropped its opposition to the US$4b offer

Published Wed, Jan 28, 2015 · 09:50 PM
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London

A QATARI-LED consortium looked set to win its long-running battle to buy Songbird Estates on Wednesday after the owner of London's Canary Wharf business district dropped its opposition to the US$4 billion offer.

Songbird said that it still thought the price undervalued the estate but with no rival bid forthcoming and holders of 86 per cent of the shares backing the deal, it said that its minority investors should accept.

Qatar Investment Authority (QIA) and partner launched a 350 pence-a-share offer direct to Songbird shareholders in December, hoping to add a financial district rivalling the City of London to landmarks already in i…

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