Whoops - there goes Hammerson's credibility! The Guardian: "Best way out of hole for Hammerson is to drop bid for smaller shopping centre rival"

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"Hammerson has waved around an asset valuation of 790p a share, ... enough to defeat Klépierre at most prices below 700p.

Hammerson's problem, however, is that it was prepared to issue stock to Intu when its own share price was 530p. That hardly inspires confidence in the 790p figure. The best way out of the hole is to drop the Intu bid altogether."