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UK's Hammerson to buy smaller rival Intu Properties for around $4.56 bln
December 6, 2017 / 7:28 AM / 11 days ago

UK's Hammerson to buy smaller rival Intu Properties for around $4.56 bln

Dec 6 (Reuters) - Britain-based shopping centre landlord Hammerson said it agreed to buy Intu Properties in a deal valuing the smaller rival at about 3.4 billion pounds ($4.56 billion).

Intu shareholders will receive 0.475 new Hammerson share for each Intu share, the companies said.

The all-share offer represents a value of about 253.9 pence per Intu share, a premium of 27.6 percent to its Tuesday’s close. ($1 = 0.7453 pounds) (Reporting by Arathy S Nair in Bengaluru, editing by Louise, editing by Louise Heavens)

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