Hammerson PLC (HMSO.L)
20 Apr 2018
Wed, Apr 18 2018
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April 18 Hammerson Plc has withdrawn its recommendation to shareholders that they back a merger with Intu Properties Plc, the British property company said on Wednesday.
Dutch pension fund APG Asset Management said on Friday it will vote against the Hammerson Plc's acquisition of shopping center operator Intu Properties Plc if the company tables the deal for approval at its shareholder meeting.
April 13 Dutch pension fund APG Asset Management said on Friday it will vote against the Hammerson Plc's acquisition of shopping centre operator Intu Properties Plc if the company tables the deal for approval at its shareholder meeting.
French shopping center operator Klepierre has abandoned a 5 billion pound bid for Hammerson , accusing the British property company of failing to provide "meaningful engagement" over a potential deal.
* Klepierre says Hammerson failed to provide "meaningful engagement"