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Shopping Centre Intu bidders given more time

by LLB Reporter
31st Oct 18 11:01 am

A consortium, led by deputy chairman John Whittaker, attempting to take over London-listed Intu has been given more time to make a firm offer or walk away from the deal.

The group now has until 5pm on 15 November to either “put up or shut up”. The company said it sought an extension from the UK takeover panel to the earlier Nov. 1 deadline as the consortium wanted to continue discussions.

The proposed deal, backed by Saudi Arabia’s Olayan Group and Canadian property investor Brookfield Asset Management, valued the FTSE 250 firm which owns Manchester’s Trafford Centre at £2.91bn.

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