77
Fashion Jobs
BEIERSDORF
Sales Representative North Greece (Based in Thessaloniki)
Permanent · ATHENS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · THESSALONIKI
L'OREAL GROUP
Senior Product Manager Maybelline – Consumer Products Division
Permanent · NEA IONIA
CLINIQUE
Consumer Marketing Manager, Clinique
Permanent · ATHENS
LA MER
Consumer Marketing Executive, LA Mer
Permanent · ATHENS
TOM FORD
Consumer Marketing Manager Tom Ford
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · CHALANDRI
ESTÉE LAUDER COMPANIES
Fixed Assets & Decorations Supervisor
Permanent · ATHENS
SEPHORA
Accounting
Permanent · ATHENS
SEPHORA
Category Specialist
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Mare West) - Μερική Απασχόληση
Permanent ·
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · PIRAEUS
H&M
Hiring Day Chania - Sales Advisors
Permanent · CHANIA
MAD LORDS
Sales Assistant Scorpios Mykonos
Fixed-term · MYKONOS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · MAROUSI
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Metro Mall) - Μερική Απασχόληση
Permanent · AGIOS DIMITRIOS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALAMATA
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · NEA IONIA
GUESS
Sales Advisor (Greece)
Permanent · ATHENS
BEIERSDORF
Junior Pos Materials & Execution Specialist (Temp Position)
Fixed-term · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALLITHEA
By
Reuters API
Published
Apr 26, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Hammerson-Intu deal officially off

By
Reuters API
Published
Apr 26, 2018

A £3.4 billion takeover of British shopping centre operator Intu Properties by bigger rival Hammerson has been formally scrapped after Hammerson was freed from its obligation to hold a shareholder vote on the deal.


Hammerson



Intu said on Wednesday that its board would not post the scheme of arrangement documents for the takeover to its investors and that Hammerson would no longer have to proceed with the all-share deal and put it to a vote.

Intu, which owns Manchester's Trafford Centre, would have also been required to hold a meeting to allow its shareholders to agree to the takeover.

It comes after Hammerson's board made a U-turn on the deal last week in the face of opposition from its own shareholders amid concerns that buying Intu would increase the company's exposure to Britain's retail sector at a time when shops are being hit by flagging consumer confidence.

The Hammerson board took the unusual step of withdrawing its recommendation that its shareholders support the takeover at the meeting it was due to convene to approve the deal.

At the same time as dropping its backing for the deal, Hammerson, which owns Birmingham's Bullring and London's Brent Cross, also asked Intu for permission to abandon its meeting altogether.

"Hammerson's offer was conditional on the approval of its shareholders," Intu said on Wednesday.

"In light of the Hammerson board's decision to change its recommendation and to advise its own shareholders to vote against the Intu transaction, Intu believes that there is now no realistic prospect that this condition will be satisfied."

The deal had looked uncertain ever since French shopping centres group Klepierre tried to disrupt the takeover with an attempt to buy Hammerson in March.

Klepierre, which had wanted to buy Hammerson without Intu, was ultimately unsuccessful with its £5 billion ($7 billion) bid for Hammerson.

However, worries among Hammerson shareholders about the Intu deal mounted after Klepierre dropped its sweetened 635 pence-a-share bid for the company earlier this month.

Intu shares slipped 0.3 percent to 197.4 pence and Hammerson was down 0.2 percent at 537.6 pence in afternoon trade in London.

© Thomson Reuters 2024 All rights reserved.

Tags :
Retail
Business