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Intu bid consortium given another week as talks make progress

By Frank Prenesti

Date: Wednesday 14 Nov 2018

Intu bid consortium given another week as talks make progress

(Sharecast News) - Shopping centre owner Intu said it had given a bid consortium another week to make a formal offer after making "good progress" on securing a £2.9bn deal.
The consortium, led by Intu deputy chairman John Whittaker's Peel Group, now has until November 22.

Peel , which already holds around 27% of Intu, has teamed up with Saudi conglomerate Olayan Group and Canary Wharf owner Brookfield Property.

The consortium initially offered 205p a share, raised to 215p after talks between the two parties before dividend payouts.

The offer came seven months after the collapse of an agreed £3.4bn merger between Intu and rival Hammerson. Intu has 17 shopping centres around the UK and Europe.

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