Possible Deal Involving Peel Group, Brookfield Property Group, and Olayan
- Intu deputy chairman John Whittaker considering £2bn takeover bid for Intu
- Peel Group, Brookfield Property Group, and Olayan form consortium to explore possible offer
- No approach made to Intu board yet
- Independent committee formed to consider any potential offer
John Whittaker, the deputy chairman of Intu, is considering a £2 billion deal to take over the shopping centre developer that owns venues such as Lakeside in Essex and the Trafford Centre in Manchester. He currently owns 27% of the company and has formed a consortium via his investment firm Peel Group, US asset manager Brookfield, and Saudi Arabia’s Olayan on a possible bid for the remaining stake of the company. In a statement, the consortium said: ‘The Peel Group, The Olayan Group and Brookfield Property Group on behalf of funds or vehicles which are managed or advised by it note the recent press speculation and confirm that the consortium is in the preliminary stages of considering a possible cash offer for the issued (and to be issued) share capital of Intu not already owned by members of the Consortium. ‘The Consortium’s consideration of the possible offer is at a preliminary and exploratory stage and no approach has been made to the board of Intu. There can be no certainty that any transaction will ultimately be forthcoming, nor can there be any certainty as to the terms of any such transaction.’ Intu confirmed it has not yet received an offer, but said: ‘The board has formed an independent committee comprising all directors of Intu other than John Whittaker, who is connected to the consortium. ‘The independent committee will consider any approach from the consortium, if made, and a further announcement will be made if and when appropriate.’
Factuality Level: 8
Factuality Justification: The article provides accurate information about John Whittaker’s potential deal to take over Intu, mentions the involved parties, and states that it is in the preliminary stages. It also includes statements from both sides and clarifies that there is no certainty of a transaction happening.
Noise Level: 3
Noise Justification: The article provides relevant information about a potential business deal involving John Whittaker and his consortium’s interest in acquiring the remaining stake of Intu, but it lacks analysis or exploration of long-term trends or consequences. It also does not offer actionable insights or new knowledge for readers.
Financial Relevance: Yes
Financial Markets Impacted: Intu’s stock price and other shopping center developers
Financial Rating Justification: The article discusses a potential takeover of Intu, a company that owns several shopping centers, which would impact its stock price and the market for similar companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the text.
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