Morgan Stanley’s bid vehicle Songbird today said that it had closed its £1.7bn offer for Canary Wharf.
On 21 May 2004,Songbird declared that its 295p offer had become unconditional and extended it to 4 June 2004 and then subsequently extended it on a number of occasions, most recently until 15 July 2004.
As at 1pm on 15 July, Songbird said it had acquired 387,987,097 Canary Wharf shares, representing approximately 66.32% of the existing share capital of Canary Wharf.
The vast majority of the outstanding shares are owned by a consortium supporting, and led by Morgan Stanley’s thwarted rival Canadian conglomerate Brascan.
References: EGi News 16/07/04
