Brascan Matches Morgan Stanley Team's Canary Bid ; in Brief

Evening Standard - London › February 12, 2004

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Summary

CANARY Wharf suitor Brascan, the Canadian property company, today effectively challenged a rival bid consortium led by Morgan Stanley to raise its offer by Pounds 100 million to Pounds 1.7 billion if it is to have a chance of staying in the bid battle for the Docklands developer.

Brascan has lifted its own offer by 5p to 275p per share, or Pounds 1.6 billion, matching a second bid last week from Morgan. Major US shareholder Franklin Mutual backed Brascan, enabling it to block Morgan.

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Brascan Matches Morgan Stanley Team's Canary Bid ; in Brief

Franklin's...

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