{"id":3432,"date":"2018-10-19T17:07:14","date_gmt":"2018-10-19T17:07:14","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/lakeside-and-metrocentre-owner-boosted-by-2-9bn-bid\/"},"modified":"2018-10-19T17:07:14","modified_gmt":"2018-10-19T17:07:14","slug":"lakeside-and-metrocentre-owner-boosted-by-2-9bn-bid","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/lakeside-and-metrocentre-owner-boosted-by-2-9bn-bid\/","title":{"rendered":"Lakeside and Metrocentre owner boosted by \u00a32.9bn bid"},"content":{"rendered":"\n
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\"IntuImage copyright<\/span>
\n Glyn Baker \/ Geograph<\/span><\/p>\n

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Shares in property firm Intu have jumped 13% after it said it was mulling a bid from a consortium of investors.<\/p>\n

Intu owns a number of big UK shopping centres including Lakeside in Essex, the Metrocentre in Gateshead, and the Trafford Centre in Manchester.<\/p>\n

The consortium is made up of three companies – the Peel Group, Saudi Arabian firm Olayan and Canada’s Brookfield Property.<\/p>\n

The group’s latest offer values Intu at about \u00a32.9bn<\/p>\n

It had offered 205p a share last week, but has now upped the bid to 215p a share. <\/p>\n

Peel Group is owned by UK billionaire John Whittaker, who is also Intu’s deputy chairman.<\/p>\n

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Peel Group already owns 27% of Intu, while Olayan owns 2.6%.<\/p>\n

The consortium has been granted access to Intu company documents in order to conduct due diligence, with a view to making a firm offer.<\/p>\n

In April, rival shopping centre owner Hammerson, owner of Birmingham’s Bullring, abandoned an attempt to buy Intu, saying it was “no longer in the best interests of shareholders”.<\/p>\n

Hammerson’s \u00a33.4bn bid was higher than the offer currently on the table. Intu’s share price has fallen since April and its current market value is about \u00a32.1bn. <\/p>\n

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Intu’s UK shopping centres<\/h2>\n