|Bid||511.20 x 14300|
|Ask||560.00 x 30600|
|Day's Range||515.40 - 545.60|
|52 Week Range||430.40 - 614.50|
|PE Ratio (TTM)||11.04|
|Earnings Date||Feb 13, 2017 - Feb 17, 2017|
|Forward Dividend & Yield||0.26 (5.23%)|
|1y Target Est||554.85|
Next month, the directors face the unenviable task of asking their shareholders to vote against a deal to which they pledged “irrevocable” support four months ago. In between, as the statement does not add, Hammerson’s share price crashed from 530p to 440p, while the board threw out a cash-and-shares proposal worth 615p from Klépierre of France, a bigger operator of shopping centres. The Hammerson board saw no need to inform shareholders of the approach and, when it leaked, dusted down some boilerplate about “very significantly” undervaluing the business.
Hammerson was in demand on news that activist hedge fund Elliott Advisors had taken a 1.5 per cent stake, which heaped pressure on the management of the shopping centre developer after its decision to ...
Shire traded lower even after Takeda made a fourth offer to buy the drugmaker with a sweetened proposal of £47 per share. The improved offer came after Shire on Thursday said it had rejected Takeda’s proposal ...
jumped after the pumpmaker announced the acquisition of ESCO, a privately owned surface-mining tools specialist, for $1bn and said it intended to dispose of its non-core Flow Control division. To help fund the ESCO purchase Weir also launched a placing of new shares equivalent to 7.4 per cent of its market capitalisation. “We see the redeployment of capital as a positive for the stock and should help lift margins for the group,” said JPMorgan Cazenove.
A top 10 shareholder was among a chorus of voices that welcomed the Brent Cross landlord’s move yesterday. It concluded a tumultuous four weeks that saw the transaction put on ice after French firm Klépierre made two approaches for Hammerson at 615p and 635p. Jefferies analyst Mike Prew said the board is “facing a Martin Sorrell day of reckoning”.
The following are the top stories on the business pages of British newspapers. - A top 20 shareholder in Hammerson Plc has said that the retail property company was right to walk away from a merger with its rival Intu Properties Plc "rather than face the embarrassment of failing to win shareholder support". - The global economy is in more debt than it was before the financial crisis, the International Monetary Fund said as it urged countries to take immediate action to address the issue.
The owner of Birmingham's Bullring and London's Brent Cross said on Wednesday its board had withdrawn its recommendation that shareholders support the all-share takeover due to heightened concerns about the British retail sector. Hammerson's announcement lifted its shares by 4.2 percent to 514.2 pence, but knocked Intu's down 4.1 percent. Shareholders had become concerned the deal would increase Hammerson's exposure to the British retail sector, which has been hit by weak consumer demand.
By Julien Ponthus and Helen Reid LONDON (Reuters) - Surging mining stocks and a fall in the pound boosted Britain's FTSE 100 on Wednesday, with metals prices climbing on supply concerns and data showing ...
LONDON/MILAN, April 18 (Reuters) - European shares rose to fresh seven-week highs on Wednesday, helped by well-received company results and a rally in mining stocks on the back of soaring metal prices.
Shopping malls giant Hammerson was on Wednesday forced into an embarrassing climbdown as it ditched a £3.4 billion takeover of rival Intu, just days after a French suitor walked away. In a dramatic U-turn on its previous enthusiasm for the bid, the Bullring-to-Brent Cross landlord said its board thinks the all-share takeover of Lakeside owner Intu “is no longer in the best interests of shareholders”. Hammerson’s chairman David Tyler said: “We spoke to all of our largest shareholders and got a good sense of what their feelings were.
Shopping centre owner Hammerson has ditched its £3.4bn takeover of rival Intu as the outlook for the UK’s retail sector becomes increasingly bleak. The Birmingham Bullring owner announced an all-share deal for Intu – which owns the Trafford Centre in Manchester – in December, but said on Wednesday that the proposed acquisition was no longer in the best interests of shareholders. Hammerson’s shares were up almost 3 per cent in morning trading, while Intu’s slipped 4 per cent.
It’s a shame Towel Throwing is not a sport. If it were, England would surely have overtaken Australia in the Commonwealth Games medal table. Because, today, two very English companies have Thrown In The ...
Be first with the Brexit business news — and save money — with our patented Daily Mail/Express/Telegraph headline generator! Simply take one word from each row and arrange on a piece of paper: 1 De La ...
Hammerson ’s board has withdrawn its backing for the company’s takeover of smaller UK mall owner Intu, less than a week after European shopping centre owner Klépierre backed away from a possible offer ...
Hammerson Plc withdrew its offer to buy Intu Properties Plc, a deal that would have created the U.K.’s biggest shopping mall owner. Hammerson’s initial bid of about $5 billion had come as shopping-mall owners try to combine to cut costs and focus on premium properties. The decision was announced days after Klepierre SA abandoned its pursuit of Hammerson, a deal that would have created one of the largest retail-property owners in Europe.
Hammerson Plc withdrew its 3.2 billion-pound ($4.6 billion) offer to buy Intu Properties Plc after a growing number of its shareholders opposed a deal that would have created the U.K.’s biggest shopping-mall ...
Hammerson has backed away from a £3.4bn takeover of smaller shopping centre rival Intu Properties amid concerns about the health of Britain’s retailers. Hammerson’s board said there were mixed views of ...
A few weeks ago, Intu shareholders had a result. Having ill-advisedly backed a mid-table shopping centres operator — not quite West Brom, but a far cry from Man City — they suddenly found themselves at the receiving end of a juicy takeover bid. Hammerson — snapping at the heels of Premier league leader Westfield, with a line-up from Brent Cross to Birmingham’s Bullring — was set to pay £3.4 billion (or 231p a share) for their company.
The boss of shopping centres landlord Intu on Tuesday sought to “dispel myths”, and save its £3.4 billion tie-up with rival Hammerson amid growing shareholder concerns. The chief was speaking for the first time following a tumultuous month that saw French developer Klépierre make two takeover approaches for Brent Cross landlord Hammerson before walking away. The offers had prompted Hammerson to freeze an all-share takeover of Lakeside owner Intu, unveiled in December.
APG is the second largest shareholder of Hammerson with a 7.1 percent stake, according to Thomson Reuters Eikon data. In a public letter to Hammerson, APG said that although it had an active dialogue with the company and had considered information that was shared, that had not changed its view that the share offer was "insufficiently attractive" for Hammerson shareholders.
One of the top 15 shareholders of Hammerson Plc said it doubts the merits of the British mall owner’s plan to buy rival Intu Properties Plc for about 3.5 billion pounds ($4.04 billion), joining two other ...
Budding optimism on global trade helped European shares advance on Friday although a turn lower on Wall Street after disappointing earnings cut some of the market's earlier gains. The STOXX 600 held near ...