Intu considers UK-Saudi takeover offer
Shopping centre chain Intu is considering a takeover offer from a consortium including British billionaire John Whittakar, Saudi investment group Olayan, and Brookfield Property Group.
Shares in Intu were up more than 14 per cent on the news that the company was mulling the offer to go private.
Read more: Intu shares soar nearly 30 per cent on John Whittaker takeover rumours
The consortium made an indicative proposal of 205p per share on 11 October, which was then revised to an offer of 215p per share.
Intu owns some of the UK's most well-known shopping centres, including the Trafford Centre in Manchester and the MetroCentre in Gateshead.
Whittaker already owns a 27 per cent stake in the company through investment fund Peel Group, while Olayan has a 2.6 per cent stake.
Shares jumped nearly 30 per cent earlier this month after Whittaker's plan was reported.
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