NO DEAL: Board of Songbird Estates Rejects QIA and Brookfield’s Latest Offer

The Songbird Estates’ board rejected the December 4th joint bid by the Qatar Investment Authority (QIA) and Brookfield Property Partners. Brookfield and QIA had made a final offer of 350 pence per share to takeover the entire share capital of the company. The offer was not high enough for Songbird’s board. The company’s board sets out the pro forma adjusted net asset value of 381 pence per share set from November 27, 2014.

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