PRESS: Hammerson Shareholder APG To Vote Against Intu Deal

LONDON (Alliance News) - A top shareholder of Hammerson PLC intends to vote against the ...

Alliance News 16 April, 2018 | 3:03PM
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LONDON (Alliance News) - A top shareholder of Hammerson PLC intends to vote against the company's acquisition of rival shopping mall operator Intu Properties PLC, Reuters news agency reported last Friday citing a public statement from shareholder APG Asset Management.

According to the news agency, the Dutch pension fund owns around 7% stake in Hammerson.

In a public letter to Hammerson, APG said that has not changed its view that the share offer for Intu was "insufficiently attractive" for Hammerson shareholders.

"We believe that the proposed acquisition will significantly dilute Hammerson's high quality portfolio," APG said, according to Reuters.

Shares in Hammerson were trading 2.2% higher at 483.30 pence on Monday afternoon. Intu shares were down 4.2% at 210.40p.

By Tapan Panchal;

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Hammerson PLC 340.50 GBX -2.46 -
Intu Properties PLC 105.10 GBX 0.53 -
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