Intu shares soar nearly 30 per cent on John Whittaker takeover rumours
Shares in property group Intu have rocketed nearly 30 per cent on rumours of a possible takeover from a consortium led by John Whittaker's Peel Group.
The other investors led by the British billionaire include Canada's Brookfield Asset Management and Saudi Arabia's Olayan Group.
Intu owns some of the UK's most well-known shopping centres, including the Trafford Centre in Manchester and the MetroCentre in Gateshead.
In a statement last last night Intu said: "Intu confirms that it has not received an approach from the consortium. The board of Intu has formed an independent committee comprising all directors of Intu other than John Whittaker, who is connected to the consortium. The independent committee will consider any approach from the consortium, if made, and a further announcement will be made if and when appropriate."
Rival shopping centre operator Hammerson pulled out of a £3.4bn takeover of Intu in April amid concerns of a wobbly retail sector, which has witnessed the collapse of House of Fraser and its subsequent takeover by Mike Ashley's Sports Direct.
Hammerson's shares were up 4 per cent this morning. Fellow property groups Land Securities and British Land were up 1.7 per cent and 1.4 per cent, respectively.