Hammerson formally ends intu pursuit

Intu Lakeside, Essex

Shopping centre giant Hammerson has confirmed it will not exercise any contractual rights to implement its £3.4bn takeover of rival intu.

A week after the board of Hammerson revealed it had ditched its proposed all-share offer, citing the softening financial strength of retailers and other tenants in the UK, the group announced it would not proceed with a contractual takeover without board approval.

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