
The company that owns the majority stake in London's business district, Canary Wharf, has rebuffed a sweetened £2.6bn takeover deal from a Qatari-led consortium, BBC News reported on Friday.
Qatar Investment Authority (QIA) and Canada's Brookfield Property Partners raised their "final" offer to Songbird Estates from £2.2bn a month ago.
Songbird owns 69% of Canary Wharf Group.
In total, it owns property worth £5.5bn in the capital.
Among the other properties Songbird owns are the "Walkie Talkie" building at 20 Fenchurch Street in the City.
It comes after QIA and Brookfield took their new joint all-cash bid directly to shareholders on Thursday.
Responding to the offer Songbird said: "The board believes the offer from QIA and Brookfield does not reflect the full value of the company, its unique position and future growth potential."
The company pointed out the adjusted net value of its assets was 381p a share, compared with the current offer of 350p a share from the consortium.
QIA, which recently bought HSBC's head office in Canary Wharf, owns Harrods and Chelsea Barracks and has a 29% stake in Songbird.
GMT 22:53 2018 Thursday ,13 December
Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar PropertiesGMT 13:41 2018 Thursday ,06 December
Tyre maker Continental opens lab to extract rubber from dandelionsGMT 15:23 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019GMT 11:13 2018 Sunday ,18 November
Electricx 2018 kicks off with participation of over 20 countriesGMT 16:34 2018 Tuesday ,13 November
Amazon announces new headquarters in New York and WashingtonGMT 16:51 2018 Monday ,12 November
Egypt's exports to Nile basin countries reached EGP 19.9 bln in 2017: CAPMASGMT 08:11 2018 Friday ,09 November
Kaspersky Lab CEO suggests replacing cybersecurity with 'cyber-immunity'GMT 14:00 2018 Thursday ,08 November
Namibian enterprise endeavours to seize opportunities at China import expoMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor