April 13, 2018 / 6:37 AM / 6 months ago

BRIEF-Klepierre S.A. drops takeover bid for Hammerson

April 13 (Reuters) - Klepierre S.A.:

* STATEMENT REGARDING HAMMERSON PLC

* KLÉPIERRE S.A. (“KLÉPIERRE”) CONFIRMS THAT ON 9 APRIL 2018, JEAN-MARC JESTIN, CHAIRMAN OF EXECUTIVE BOARD OF KLÉPIERRE, MET WITH CHAIRMAN OF BOARD OF DIRECTORS OF HAMMERSON, DAVID TYLER, AND MADE AN INCREASED PROPOSAL TO HAMMERSON ON A STANDALONE BASIS OF 635 PENCE PER HAMMERSON SHARE FOR ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF HAMMERSON ( “INCREASED PROPOSAL”)

* INCREASED PROPOSAL REPRESENTS A PREMIUM OF 45% TO HAMMERSON’S UNDISTURBED SHARE PRICE OF 437.10 PENCE PER HAMMERSON SHARE ON 16 MARCH 2018

* MADE AN INCREASED PROPOSAL TO HAMMERSON ON A STANDALONE BASIS OF 635 PENCE PER HAMMERSON SHARE

* BOARD OF HAMMERSON DID NOT PROVIDE ANY MEANINGFUL ENGAGEMENT WITH RESPECT TO INCREASED PROPOSAL AND, AFTER CAREFUL CONSIDERATION, KLÉPIERRE HAS CONCLUDED THAT IT DOES NOT INTEND TO MAKE AN OFFER FOR HAMMERSON PURSUANT TO RULE 2.7 OF CITY CODE ON TAKEOVERS AND MERGERS Source text for Eikon: Further company coverage: (Reporting by Emma Rumney)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below