Songbird Estates’ major shareholders have accepted a £2.6bn takeover bid by Qatar Investment Authority and Brookfield Partners.
QIA and Brookfield have won the support of all three of the Canary Wharf Group owner’s major shareholders.
China Investment Corporation, Simon Glick, and Morgan Stanley have all now backed the bid.
This means QIA and Brookfield would hold at least around 85.60 per cent of the Songbird shares.
As a result, the Songbird board has recommended its minority shareholders accept the bid.
The news follows a drawn out battle for control of the company between the Songbird board and firms QIA and Brookfield.
The pair’s offer of £3.50 per share was rejected by the board earlier this month, as they said it “materially undervalued” the company.
This followed a previous offer of £2.95 per share for the company, which the board “unanimously” rejected.
Following the initial rejection, Songbird estimated the business was worth £2.8bn on a net asset value basis.
The Songbird board said this week it still believed the offer the under value the group.