Dutch pension giant APG Asset Management has revealed it will vote against Hammerson’s £3.4bn acquisition of shopping centre rival intu.
In a public letter to Hammerson, APG, which is the second largest shareholder of Hammerson with a 7.1% stake, wrote that although it had an active dialogue with the company and had considered information that was shared, that had not changed its view that the deal was “insufficiently attractive” for Hammerson shareholders.
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