Intu Properties shares rise on Whittaker takeover bid: Reuters

U.K. shopping centre owner Intu Properties said it was considering a 215 pence per share preliminary takeover offer from a consortium led by its deputy chairman John Whittaker, Reuters reported. The proposed deal, backed by Saudi Arabia’s Olayan Group and Canadian property investor Brookfield Asset Management, values the FTSE 250 firm which owns Manchester’s Trafford Centre at 2.91 billion pounds (US$3.8 billion). Whittaker’s consortium initially offered 205 pence per Intu share on October 11. Olayan and Whittaker’s Peel Group already hold 29.9 percent of Intu.

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