Hammerson scraps £3.4bn Intu takeover

Westfield Croydon by Westfield and Hammerson

Growing risks in retail sector giving investors cause for concern, says developer

Westfield Croydon by Westfield and Hammerson

Hammerson has pulled the plug on its proposed £3.4bn takeover of rival shopping centre developer Intu, blaming increasingly tough trading conditions in the UK retail industry for the move.

Hammerson had announced plans to buy Intu, which owns the Trafford Shopping Centre in Manchester, last December.

At the time Hammerson chairman David Tyler had claimed the combined entity would be “well-placed to take advantage of higher growth opportunities on a pan-European scale”.

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