THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
• Omnichannel Futures Conference 2020
• Future of Retail Marketing 2020
• The HR Summit 2020
• AI in Retail Conference 2019
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Hammerson steps back from acquisition of Intu

Hammerson has decided that its proposed acquisition of the Intu shopping centre chain is no longer in the best interests of its shareholders. The company said… View Article

SHOPPING CENTRES & RETAIL PARKS

Hammerson steps back from acquisition of Intu

Hammerson has decided that its proposed acquisition of the Intu shopping centre chain is no longer in the best interests of its shareholders.

The company said the reasons behind the decision included a softening of the financial strength of UK retailers and other tenants in recent months as it highlighted the number of administrations and CVAs in the sector. It also referred to a deterioration in the equity market’s perception of the broader UK retail property market since the start of the year.

Hammerson said: “Whilst Hammerson has proven its portfolio is well positioned to weather the current environment, the equity market now perceives a heightened level of risk associated with the UK retail property sector as a whole.

“It is also apparent from extensive engagement with shareholders, in particular in recent weeks, that there is a wide range of views on the merits of the Intu acquisition.

“As a result, the board of Hammerson has concluded that the heightened risks associated with the Intu acquisition outweigh the long-term rewards that can be expected in comparison to other strategic options open to the company.”

Hammerson said it would now be reviewing options to accelerate the delivery of value for shareholders. Actions could include making some disposals and seeking out opportunities to invest in higher-growth segments such as premium outlets and Ireland.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, 22 Duchess Mews, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Future of Retail Marketing 2020
Future of Retail Marketing 2020
9 June 2020
Hallam Conference Centre, London W1W 6JJ
The Future of Retail Marketing for Customer Engagement
The HR Summit 2020
The HR Summit 2020
1 October 2020
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2019
AI in Retail Conference 2019
14 October 2020
Hallam Conference Center, 44 Hallam Street, London W1W 6JJ
CONFERENCE AIMED AT RETAILERS WORKING IN MARKETING, IT, DIGITAL, DATA AND TECHNOLOGY