For Hammerson, the deal would increase its dominance of large United Kingdom retail centres, add complementary Spanish assets, plus enhance earnings and net asset value.
Hammerson, which also owns the Bullring in Birmingham, has reached a deal with the shopping centre group, which also owns the Trafford Centre in Manchester, which Intu have said will create £21 billion pan-European portfolio - meaning they will be the largest United Kingdom group of this type. He said the deal would strengthen its portfolio and opportunities for growth, including in Spain and Ireland, two of Europe's fastest growing economies.
The group overall will have six directors nominated by Hammerson and four directors nominated by Intu.
"Bringing together the high-quality portfolios of both companies establishes Hammerson as a larger, leading European retail REIT, enhances shareholder returns and supports opportunities for long-term growth".
"The proposed deal will net the group a stake in nearly 60% of all United Kingdom supermall space, making it a force in the retail landscape, well placed to benefit from retail spend shifting across locations". Intu also operates the Trafford Centre in Manchester while Hammerson owns Bicester Village and Brent Cross shopping centre.
Hammerson also faces the risk an worldwide third party could show interest in making a bid for Intu, the broker said.
Debt Poses Significant Financial Risk — IMF China Report
But it said it did not go along with all of the findings and that the stress tests "do not fully reflect the whole picture". According to the IMF's health check of China's financial system, four-fifths of the country's banks are at risk.
FCG Advisors LLC Invests $259000 in Merck & Co., Inc. (MRK)
Currently, 175 million total shares are owned by the public and among those 173.51 million shares have been available to trade. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.08.
Brush fire in Bonsall; evacuations ordered
Cal Fire units are at scene of the Lilac Fire located at Old Hwy 395 cross of Dulin Rd in Bonsall. All lanes on southbound 15 south of SR-76 have re-opened, significant back up remains.
John Strachan, chairman of Intu, said: "Intu offers high-quality retail and leisure destinations in the United Kingdom and Spain, which, when merged with Hammerson's own top-quality assets in the United Kingdom, in France and in Ireland, present a highly attractive proposition for retailers and shoppers in Europe's leading cities".
The broker thinks it is a "sensible combination" and estimated cost savings from the deal should add about 5% to pre-tax profits of the merged group.
"This marks an exciting milestone in the history of Hammerson".
They agreed on "the terms of a recommended all-share offer by Hammerson to acquire the entire issued and to-be-issued share capital of Intu", they said in a joint statement. Intu's deputy chairman John Whittaker will be given the same role in the enlarged company, while its chairman John Strachan will join the board as senior non-executive director.
The combined group will be led by Hammerson chief executive David Atkins and Timon Drakesmith, the firm's chief financial officer, and will be called Hammerson plc.
"Hammerson is one of our preferred United Kingdom retail real estate investment trusts, but this is primarily due to its European diversification, and we continue to remain cautious on the short-and medium-term outlook for the United Kingdom", said Elston.
Comme de nombreux autres artistes, Matt Pokora a utilisé les réseaux sociaux pour rendre hommage à Johnny Hallyday mercredi. Si personne ne met en doute son émotion, beaucoup de monde se demande si ce décès ne va pas inspirer des idées à la star.
The bone that was analysed is a fragment from the pelvis, and is owned by Father Dennis O'Neill from IL in the United States . Since Father O'Neill's relic is from the left, this suggests that both bone fragments could be from the same person.
Glasgow's Hampden Park had been hoping to stage the tournament's opening game but that honour has gone to Rome's Stadio Olimpico. Brussels has lost it's Euro 2020 football matches after their "Eurostadium" ran into delays.
In any case, they won't be hard to recognize. "I woke up today and some guys in Russian Federation said we should back out". If you catch an athlete red-handed, then punish this athlete. "No anthem, either.
Three firefighters who were injured and admitted to hospital are in stable condition, the Los Angeles Fire Department said. Los Angeles Mayor Eric Garcetti said the blazes had spread across 150 acres with zero containment by 10am (6pm GMT).
Australians had overwhelmingly endorsed legalizing same-sex marriage in a postal survey run by the national statistics agency. Almost eight out of 10 eligible voters participated in the survey, according to the government.
Ex-officer Slager gets 20 years for Walter Scott shooting
During tearful statements in court, several members of Scott's family said they forgave the officer and were praying for him. Slager is then heard on a police radio reporting a description of Scott before yelling, "Taser, Taser, Taser!"
Square Enix confirms new Tomb Raider in development
The Tweet that was sent from the official Tomb Raider account posted the following statement regarding a new Tomb Raider game. The recent series of Tomb Raider games have been some of my favorite games each year.
Weather Warnings For Snow and Ice
Met Eireann forecaster John Eagleton said temperatures are set to plunge tonight. It adds that icy surfaces are also likely to be an additional hazard.
Raila digs in as State warns him over swearing-in plan
Prof Muigai said the government would not stop at anything to prevent the breach of the rule of law and the constitution. The penal code says anyone who tries to form a Government contrary to the Constitution could face charges of sedition.