"Hammerson possible merger partner for Corio" (we thought it was Capital Shopping Centres - oh, that was the week before)

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"Hammerson, the UK-based listed property group, is a possible merger partner for Dutch shopping-centre operator Corio, JPMorgan Cazenove has suggested.

"JPMorgan’s analysts say that any such deal would have to be worth less than the net asset value of the Dutch company, taking into account an increasing rate of tenant failures and a weakened outlook for continental markets.

"JPMorgan Cazenove predicted the property sector will see increasing M&A activity as companies move to lower costs and hike landlords’ pricing power.

"The analysts described Hammerson as a perennial target; the company has seen recent speculation of a merger with UK-based Capital Shopping Centres and was earlier this year said to be on the radar of Australia-based Westfield and sovereign wealth funds." 
 

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Property Week:

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