A £3.4 billion takeover of British shopping centre operator Intu Properties by bigger rival Hammerson has been formally scrapped after Hammerson was freed from its obligation to hold a shareholder vote on the deal.
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Giant retail landlord Hammerson is revisiting plans for a massive site in Birmingham that will be near the new HS2 station and could turn into one of the city's most important retail locations as a result.
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Will a day go by this month when Hammerson isn't in the news? Perhaps not. The big story today is that the proposed mega-merger between the shopping centres giant and its smaller peer isn't going to happen.
The £3.4 billion acquisition of Intu by Hammerson might never happen, despite the French company that could have derailed the deal walking away from another bid for the larger of the two UK shopping centre giants.