Songbird Says Too Early To Know Shareholder Intentions On $4bn Qatari Bid

Songbird Estates, the subject of a 2.6 billion pound ($4 billion) hostile takeover bid from a Qatari-led group, said it was too early to speculate on the intentions of the majority of its shareholders.

The company, the owner of London’s Canary Wharf financial district, said it was issuing a statement in response to press comment after a British media outlet quoting an unnamed Songbird executive said investors were poised to reject the Qatari bid.

“No guarantees as to the intentions of any shareholders or any other statements of support with respect to the offer have therefore been sought or received by the board of Songbird at this time,” Songbird said in its statement on Thursday.

Songbird said it would make known its view on the offer from Qatar Investment Authority and Brookfield Property Partners after the suitors had published their offer document.

The company earlier said that the 350 pence per share bid was too low, but has yet to formally reject it.

The Qatari-led group launched the offer direct to shareholders in early December and has since said investors with nearly a third of the Songbird’s free float have pledged support for its approach.

QIA’s hostile move had followed the rejection of an earlier 295 pence-a-share bid.