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ThisIsMoney: "Shopping malls fend off £5bn French bid: But Hammerson may yet face an even bigger offer"

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"Shares in Hammerson soared after a French rival launched an audacious £4.9bn bid for the company – throwing its planned tie-up with Intu into doubt.

"Paris-based Klepierre, which runs more than 100 shopping centres across Europe, tabled an offer of 615p a share for the British owner of the Bullring shopping centre in Birmingham (pictured) and Brent Cross in north London.

"Hammerson rejected the bid but shares jumped 24 per cent, or 105.3p, to 542.4p amid signs the French will continue to pursue a deal. A source close to Klepierre said: 'We are not going away. We think this is a good deal for our shareholders and Hammerson shareholders'."

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