Within hours of announcing bid Hammerson had snapped up 12,777,155 shares in the market, giving it an 18.25% stake in the company. But in a Stock Exchange statement the Independent Directors did not rule out further bids.
"The independent directors remain in discussions with other parties interested in acquiring the company," they said. "As a consequence, the independent directors advise shareholders to take no action with regard to acceptance of Hammerson's offer at this stage."
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