The proposed £3.4 billion merger between Hammerson and Intu may have officially died a death yesterday, but the deal between Britain’s biggest shopping owners has been effectively over since last week. It was clear then that there was trouble ahead when a staid Dutch pension fund wrote three letters objecting to the proposed deal, copying in the media with the last one on Friday. In doing so APG, the second largest shareholder in Hammerson, delivered a deadly blow. Hammerson owns or has stakes in some of the best-known shopping centres in Britain, including the Bullring in Birmingham, Brent Cross in north London and designer outlet centres, including Bicester Village. Intu is best known for owning the Trafford Centre in Manchester.

Source: The Times April 18, 2018 07:52 UTC