Market News

Intu grants Peel-led consortium more time to bid

31/10/2018 07:52

(Sharecast News) - Shopping centre owner Intu Properties on Wednesday said it had given a consortium led by its deputy chairman John Whittaker until November 15 to make an offer. Whittaker's Peel Group, which already holds around 27% of the firm, had teamed up with Saudi conglomerate Olayan Group and Canary Wharf owner Brookfield Property and tabled a £2.8bn offer. The offer comes six months after the collapse of an agreed £3.4bn merger between Intu and rival Hammerson. Intu shares, which had fallen around 30% since the collapse of the bid and are down 45% since the start of 2017, surged 25% to 186.48p earlier this month.

With 17 shopping centres around the UK and Europe, Intu's net asset value stood at 309p per share at the end of June.

Investors should be aware that past performance is not a reliable indicator of future results and that the price of shares and other investments, may fall as well as rise and the amount realised may be less than the original sum invested.

Walker Crips Group plc (Old Change House, 128 Queen Victoria Street, London EC4V 4BJ), registered in England, registered number 1432059, incorporates the following companies which are authorised and regulated by the Financial Conduct Authority: Walker Crips Investment Management Limited registered in England number 4774117 member of the London Stock Exchange, Walker Crips Wealth Management Limited registered in England number 3790291, Ebor Trustees Limited registered in England number 3514268, Barker Poland Asset Management LLP registered in England and Wales number OC341149.