Shares in property firm are now trading well below the recent takeover-inspired highs

Klepierre has given up on its pursuit of shopping centre landlord Hammerson (HMSO) after seeing a 635p per share takeover bid rebuffed.

Hammerson has also abandoned its own £3.4bn merger with Intu Properties (INTU) (18 Apr) amid mounting investor unrest over the move, leading shareholder, Dutch pension fund manager APG, had come out against the deal.

Shares in Hammerson had reached 570p in the wake of Klepierre’s interest but last week fell back to 473p when that deal collapsed. They made a recovery to 505p after Hammerson scrapped the Intu deal on 18 April.

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