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Intu shares nosedive as buyer walks away

by LLB Reporter
29th Nov 18 8:44 am

Shares in shopping centre owner Intu tumbled by 31.34 this morning after major shareholder Peel Group said it would not support it deal

It is the second time this year that a bid for Intu has not worked out.

In April, Hammerson dumped a £3.4bn takeover offer for Intu that would have created the UK’s biggest property company, worth £21bn.

“Given the uncertainty around current macroeconomic conditions and the potential near-term volatility across markets, the consortium is not able to proceed with an offer within a timeframe which is manageable within the confines of the code timetable,” Intu told investors.

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