Intu shares nose-dive after Whittaker group drops bid: Reuters

A consortium led by the biggest investor in Intu Properties has scrapped a 2.9 billion-pound bid for the shopping centre owner, Reuters reported. Peel Group, which is the investment vehicle of Intu’s deputy chairman and major investor John Whittaker, Canada's Brookfield Asset Management and Saudi Arabia’s Olayan Group said that macroeconomic uncertainty and potential market volatility meant they could not submit an offer for the London-listed business within the timetable set by Britain’s Takeover Code. This is the second time in less than a year a takeover for Intu has collapsed, sending its shares to a record low.

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