Major Hurdle to Clear for Songbird Estates Takeover Bid
The majority owner of Canary Wharf Group Plc, Songbird Estates, is expected to reject the £2.6 billion takeover move by Qatar’s sovereign wealth fund. Canada-based Brookfield Asset Management and Qatar Investment Authority (QIA) have to muster 50% of shareholder support to move forward with the takeover. The bidders have been trying to garner support of free float shareholders of Songbird Estates. Share investors such as Third Avenue Management, Madison International and EMS Capital have indicated to the joint bidders their approval of the deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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