Shares in struggling mall owner Intu Properties, which was formed out of Donald Gordon's Liberty International in 2010, surged nearly 24% on Monday, the biggest one-day gain in 11 months, after reports that private equity firm Orion Capital Managers wanted to buy out the company and de-list it.

The company's share price had climbed 23.75% to R7.92  in morning trade before closing 14% higher at R7.30, its highest close since August 2, following a report in the UK’s Sunday Times that UK-based private equity group Orion Capital Managers wanted to acquire Intu.

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