Consortium gets further extension to make Intu offer


Shopping centre owner Intu Properties has asked the Panel on Takeovers and Mergers for an extension to the deadline for making a cash offer to take the company private.

This means that the consortium consisting of the Peel Group, the vehicle of billionaire entrepreneur John Whittaker, Saudi Arabia’s Olayan Group, and Canada’s Brookfield Property Group now have until November 22 to make a firm offer or walk away from Intu.

Earlier, the consortium had faced a November 15 deadline to declare its intentions towards the London-listed company.