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Hammerson rejects new £5.04bn offer from Klépierre
Hammerson said it had received and rejected a second bid offer from French shopping mall owner Klépierre valuing the company at £5.04bn, although it remained "open" to further talks.
The revised offer, made on April 9, was 635p a share, made up of 50% in new Klépierre shares and the rest in cash.
"The board has considered the revised proposal from Klépierre carefully. At 635p, it is only a 3% increase on the previous proposal and continues very significantly to undervalue the company," said Hammerson chairman David Tyler, adding that the his firm "remains open to discuss any proposal from Klépierre which properly reflects the value of the company".
Tyler said the new offer was made at a meeting with his French counterpart Jean-Marc Jestin.
The UK shopping center owner rejected a 615 pence-a-share bid from Klépierre in March, three months after it set out to buy smaller rival Intu in a £3.4bn tie-up.