Brookfield, Olayan and Peel make indicative offer for intu
Brookfield, Peel Group and Olayan Group have made an indicative offer for intu at 210.4p per share.
In a statement this morning (19 October), the retail REIT said it had received two proposals from the consortium since the takeover discussions were revealed by EG earlier this month.
The consortium, which first confirmed it was in preliminary stages of considering a cash offer for the company on 4 October, initially made an offer of 205p per share, subject to an adjustment for dividends.
Brookfield, Peel Group and Olayan Group have made an indicative offer for intu at 210.4p per share.
In a statement this morning (19 October), the retail REIT said it had received two proposals from the consortium since the takeover discussions were revealed by EG earlier this month.
The consortium, which first confirmed it was in preliminary stages of considering a cash offer for the company on 4 October, initially made an offer of 205p per share, subject to an adjustment for dividends.
Intu’s independent committee and its financial advisers met to consider this first proposal last week (11 October).
The company then received a revised offer of 215p per share, subject to an adjustment for dividends.
Taking into account the interim dividend of 4.6p per share due to be paid on 20 November 2018, this latest offer stands at 210.4p per share.
Intu said: “In order to advance discussions regarding the possible announcement of a firm offer, the independent committee has resolved to grant the consortium access to certain due diligence materials. A further announcement will be made when appropriate.”
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