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INTU Takeover

INTU Properties agree to Hammerson takeover.

Retail property developer Hammerson PLC said Wednesday it has agreed to buy shopping center owner Intu Properties for £3.4bln
The merger will create a company with a £21bln pan-European portfolio of retail and leisure destinations
Accepting Intu shareholders will get 0.475 new Hammerson shares for each share held, equivalent to 253.9p each based on Hammerson’s closing share price of 534.50p Tuesday

As of 8.06am the stock was up c.20% at c.238.3p


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