Intu Properties PLC (ITUJ.J)
18 May 2018
LONDON, April 25 A 3.4 billion-pound takeover of British shopping centre operator Intu Properties by bigger rival Hammerson has been formally scrapped after Hammerson was freed from its obligation to hold a shareholder vote on the deal.
British shopping centre operator Intu Properties said on Wednesday it was withdrawing its recommendation for a takeover offer from Hammerson for 3.4 billion pounds ($4.74 billion).
April 25 British shopping centre operator Intu Properties said on Wednesday it was withdrawing its recommendation for a takeover offer from Hammerson for 3.4 billion pounds ($4.74 billion).
British shopping center operator Hammerson is pulling out of buying smaller rival Intu Properties by asking its increasingly skeptical shareholders not to back the planned 3.4 billion pound ($4.8 billion) deal.
* Hammerson rises 4.2 pct to 514.2 pence (Updates with comment from Hammerson investor APG)
LONDON, April 18 A positive start to the first-quarter earnings season and a softening pound triggered by weak inflation data helped to lift Britain's FTSE 100 index on Wednesday as concerns ease over a U.S.-Russia stand-off over Syria.
BRIEF-Intu Properties Says Regards Explanations Given By Hammerson For Its Withdrawal Of Recommendation As "Unsatisfactory"
* "INTU IS ENTIRELY CONFIDENT OF INTU'S COMMERCIAL FUTURE AND PROSPECTS"
* WITHDRAWAL OF RECOMMENDATION IN RESPECT OF INTU PROPERTIES PLC
April 18 Hammerson Plc has withdrawn its recommendation to shareholders that they back a merger with Intu Properties Plc, the British property company said on Wednesday.
* CONTINUE TO SEE GROWTH OPPORTUNITIES FOR £10 BILLION UK PORTFOLIO