November 14, 2018 / 7:25 AM / 6 months ago

Shopping centre owner Intu gives suitors more time to make takeover bid

LONDON (Reuters) - British shopping centre owner Intu Properties (INTUP.L) said on Wednesday that it had given a consortium considering a takeover more time to make an offer for the company.

The owner of Manchester’s Trafford Centre said that Peel Group, the vehicle of billionaire entrepreneur John Whittaker, Saudi Arabia’s Olayan Group and Canada’s Brookfield Property Group now have until Nov. 22 to make a firm offer or walk away from Intu.

The consortium had faced a Nov. 15 deadline to declare its intentions towards the London-listed property company.

Reporting by Ben Martin, editing by Sinead Cruise

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