Brascan ups the ante at Canary

The battle for Canary Wharf intensified on Thursday when Brascan, the Canadian property company, moved to scupper a bid from rival Morgan Stanley.

Brascan's new 275p a share bid values Canary Wharf at £1.6bn (€2.4bn), matching an agreed offer made last week by Silvestor UK Properties, a bidding vehicle formed by a Morgan Stanley-led consortium.

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