Intu extends takeover bid deadline

Intu has extended its takeover bid deadline for a third time after the consortium bidding to buy the shopping centre operator requested more time. It has granted the consortium, which comprises John Whittaker’s Peel Group, Olayan Group and Brookfield Property Group, a deadline of 5pm on 30 November. Its previous deadline was 5pm on 22 November, an extension on its deadline on 15 November and the original deadline on 1 November. The consortium has discussed a potential cash offer for intu that valued the company at £2.9bn, as revealed by EG. Intu said it has “engaged extensively with and provided diligence materials to the consortium over the last four weeks” and has approved the deadline extension to give the consortium sufficient time to complete discussions and the financing process. To send feedback, e-mail karl.tomusk@egi.co.uk or tweet @karltomusk or @estatesgazette