By Richard Hook2018-04-25T15:29:00
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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