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"Hammerson is Doomed, Doomed I Tell Yeh!": Hammerson's valuation is only achievable with total breakup

Link to ThisIsMoney web site
(scroll down, past another financial disaster)

"Brent Cross owner Hammerson is standing firm in the face of the onslaught from French shopping centre group Klepierre, which is seeking to gatecrash a sweetheart deal with Intu.

"Hammerson is unimpressed by the 3 per cent uplift in the offer price to 635p per share, which is 20 per cent below the current net asset value of the company of 790p in March.

"That is the cash which could be released if properties were sold off piecemeal. It contrasts the value of the French offer with the full asset price being paid for Westfield by another European shopping centre owner Unibail-Rodamco." 

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