Hammerson ditches £3.4bn intu takeover

Bullring, Birmingham

Source: Shutterstock/Mihai-Bogdan Lazar

Shopping centre giant Hammerson has ditched its £3.4bn takeover of rival intu, citing the weakness of the current market.

In a statement to the London Stock Exchange this morning, the board of Hammerson said that the financial strength of retailers and other tenants in the UK has softened, noting administrations and stores closures.

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