Hammerson, owner of European shopping centres, is continuing with its plan to take over Intu Properties, as it aims to enhance its British asset base. The group released a business update for the first quarter of 2018 on Thursday in which it said it would continue to pursue Intu Properties. There had been suggestions that its mission to become a property company worth more than R100bn would be derailed by an offer from French group Klépierre to take over Hammerson itself. Hammerson scoffed at Klépierre’s £4.9bn takeover bid, which was made by the €10.34bn company in March, saying it was opportunistic and undervalued Hammerson. It deemed the bid a "highly preliminary and nonbinding proposal", it said at the time. Hammerson’s market capitalisation was about €3.4bn at the end of trade on Thursday. Hammerson CEO David Atkins said he was yet to hear anything new from Klépierre since the offer was rebuffed. "While Klépierre’s position remains unclear, the board of Hammerson does not inten...
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