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Songbird Acquisition, the new name for the Morgan Stanley led consortium, has had it’s latest bid of 295p endorsed by the the independent directors at Caanry Wharf. CWG, the rival Branscan bid, backed by Paul Reichman, is thought to be still due to put its 275p offer to shareholders. The bid battle for Canary Wharf has now been going on for 10 months and the two groups have until the end of the week to send their offers to shareholders. - (20-04-2004)
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