Intu extends takeover bid deadline

The consortium bidding to buy shopping centre operator intu has requested more time to decide on whether it will make a possible offer. Under takeover rules intu has granted the consortium, which comprises John Whittaker’s Peel Group, Olayan Group and Brookfield Property Group, a deadline of 5pm on 15 November. The deadline was previously the afternoon of 1 November. The consortium has been discussing a potential cash offer for intu that valued the company at £2.9bn. Intu said: “There can be no certainty that any offer will be made for the company, nor as to the terms on which any offer might be made.” To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette