April 11, 2018 / 6:25 AM / 11 days ago

BRIEF-Hammerson Says Klepierre's Revised Bid "Very Significantly" Undervalues Company

April 11 (Reuters) - Hammerson Plc :

* STATEMENT RE REVISED PROPOSAL FROM KLÉPIERRE S.A.

* RECEIVED A REVISED PROPOSAL FROM KLÉPIERRE RELATING TO A POSSIBLE ACQUISITION OF ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF HAMMERSON

* REVISED PROPOSAL IS 635 PENCE PER HAMMERSON SHARE, COMPRISING 50% IN NEW KLÉPIERRE SHARES AND 50% IN CASH.

* BOARD REMAINS OPEN TO DISCUSS ANY PROPOSAL FROM KLÉPIERRE WHICH PROPERLY REFLECTS VALUE OF COMPANY

* PROPOSAL AT 635P, IS ONLY A 3% INCREASE ON PREVIOUS PROPOSAL AND CONTINUES VERY SIGNIFICANTLY TO UNDERVALUE COMPANY

* THERE CAN BE NO CERTAINTY OF A FIRM OFFER FOR HAMMERSON FROM KLÉPIERRE OR TERMS ON WHICH ANY FIRM OFFER MIGHT BE MADE Source text: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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