Finance

Hammerson rejects informal £5bn bid from Klépierre

By 2018-03-19T09:26:00

Bullring, Birmingham

Source: Shutterstock/Mihai-Bogdan Lazar

Hammerson has rejected a £5bn takeover bid from French property giant Klépierre, that could yet threaten to derail the British property company’s proposed merger with retail rival Intu.

Following a report in The Times this morning, Hammerson confirmed it recently received and rejected a highly preliminary and non-binding proposal from Klépierre regarding a possible cash and share offer for Hammerson. The Proposal, received on 8 March, valued Hammerson at a price of 615p a share, comprising 50% in new Klépierre shares and 50% in cash.

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