November 22, 2018 / 7:31 AM / 8 months ago

Shopping center owner Intu gives suitors more time for takeover bid

(Reuters) - British shopping center owner Intu Properties (INTUP.L) said on Thursday that it had again extended the deadline for a consortium led by Deputy Chairman John Whittaker to make a formal offer for the company.

The owner of Manchester’s Trafford Centre said that Whittaker’s Peel Group and its Saudi Arabian and Canadian partners now have until Nov. 30 to make a firm offer or walk away from Intu.

Intu said the consortium has largely completed its due diligence, with no reason to change its indicative proposal of 210.4 pence per share.

Reporting by Noor Zainab Hussain in Bengaluru; editing by Patrick Graham

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