Peel Group given more time to make a £2.8bn bid for Intu

Yorkshire Post - Business - - BUSINESS / NEWS -

A con­sor­tium at­tempt­ing to take over shop­ping cen­tre gi­ant Intu has been granted more time to make a firm of­fer or pull out of the £2.8bn deal.

The Takeover Panel said that the con­sor­tium, led by John Whit­taker’s Peel Group, now has un­til 5pm on Novem­ber 15 to ei­ther put up or shut up.

Intu is be­hind 18 shop­ping cen­tres across the UK, in­clud­ing the Traf­ford and Arn­dale Cen­tres in Manch­ester, Lakeside in Es­sex and Metro­cen­tre in Gateshead.

Ear­lier this month, Peel Group, Olayan and Brook­field Prop­erty tabled a £2.8bn of­fer for Intu.

The con­sor­tium has been granted ac­cess to com­pany doc­u­ments for due dili­gence as it con­sid­ers whether to make a firm of­fer.

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