Who is to blame for Hammerson’s failure to merge with Intu Properties?
The question has been swirling around the property market since the proposed £3.4bn all-share merger between the two largest shopping centre owners collapsed last month. And for good reason.
Mergers and acquisitions in property are so rare that when a proposed deal finally comes along one assumes it should make sense and that the management team have some idea of how to sell it to the market. That chapter was missing from the Hammerson-Intu saga.
