Intu pushes back offer deadline again

(Sharecast News) - Intu's suitors have made "substantial progress" towards financing a possible offer for the shopping centre owner but, needing a just a little more time, the deadline to make a formal offer has been pushed back again. The consortium of potential buyers, led by Intu deputy chairman John Whittaker's Peel Group, has largely completed due diligence on the legal, tax, accounting and commercial aspects of the deal and found nothing that would lead it to alter its indicative proposed offer of 210.4p per share before dividend payouts.But with the consortium needing to completing its financing arrangements with its lenders, Intu has applied and received an extension to the offer to 1700 GMT on Friday 30 November.The consortium is made up of Peel, which already holds around 27% of Intu, Saudi conglomerate Olayan Group and Canary Wharf owner Brookfield Property.