Wait and see: Hammerson holding tight ahead of Klepierre takeover move

Hammerson will not finalise its £3.4 billion tie-up with Intu as it awaits clarity on a takeover approach from European rival Klepierre. The shopping centre giant, whose assets include Aberdeen’s Union Square, said in an update that while Klepierre’s position “remains unclear”, the board does “not intend to finalise shareholder documents in relation to the proposed acquisition of Intu”. Hammerson has branded Klepierre’s £4.88bn cash-and-shares offer “entirely opportunistic”, but the French firm has until 16 April to “put up or shut up” with a formal offer.