Hammerson set to buy rival intu

(Reuters) – British shopping centres owner Hammerson Plc has agreed to buy smaller rival Intu Properties for about 3.4 billion pounds in a long-speculated deal to create a malls giant controlling 21 billion pounds of assets.

The all-share offer values FTSE 250-listed Intu at 253.9 pence per share, a 27.6 percent premium to its closing price on Dec. 5, the two companies said on Wednesday.

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