LONDON (Reuters) - A consortium including British billionaire John Whittaker and Canada’s Brookfield Asset Management (BAMa.TO) is considering a bid for Intu Properties (INTUP.L), the 2 billion-pound shopping centre owner.
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The share price is up 40% as I type to 190p putting the yield at 7.3% and discount to TNAV at 119p per share.
I have mixed feelings about the development. I’m not sure that the non-consortium shareholders will get a good deal out of this and it is early days in the offer process so this may go nowhere. I was happy holding before the bid but I’ve sold half my holding today due to my uncertainty.