April 13, 2018 / 6:47 AM / 3 months ago

France's Klepierre says drops Hammerson takeover bid

LONDON, April 13 (Reuters) - French real estate group Klepierre said on Friday it does not intend to make a further bid for Hammerson after the British company rejected an improved offer made earlier this week.

Klepierre said in a statement that it dropped the bid after the board of Hammerson “did not provide any meaningful engagement” with Klepierre’s increased offer of 635 pence per Hammerson share.

“After careful consideration, Klepierre has concluded that it does not intend to make an offer for Hammerson,” the statement said. (Reporting by Emma Rumney, writing by Silvia Aloisi)

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