By Chris Bailey | Friday 26 June 2020
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Well the day has almost arrived. Two-and-a-half years ago I wrote here that 'Bizarre news of the day among the larger cap stocks on Wednesday was undoubtedly the announcement that property behemoth Hammerson (HMSO) was buying shopping centre peer Intu (INTU) with a £3 billion+ all share (naturally) offer'. I called this deal 'madness' at the time and fortunately (for Hammerson) it walked away due to the clearly fast-deteriorating structural fundamentals around shopping centres. And now, around thirty months later, Intu notes 'insufficient' talks with creditors so far, so 'the Board is therefore considering the position...this is likely to involve the appointment of administrators'...
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