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Bloomberg reports Brent Cross's Hammerson is possible takeover victim

Link to Bloomberg

"European real estate investment trusts have become likely takeover targets after share prices failed to keep pace with asset values, JPMorgan Chase & Co. said.

"Companies that may attract bids include the U.K.’s Hammerson Plc (HMSO).

"... Hammerson’s discount to net asset value should narrow after the company carry’s [sic] out a plan to sell its office portfolio, JPMorgan said in the note. The developer decided to focus on retail assets because they expect 'superior returns' compared with office buildings, Chief Executive Officer David Atkins said in a Feb. 24 presentation to analysts."

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