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Hammerson set to exit FTSE 100 in light of £3.4B Intu takeover

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Hammerson set to exit FTSE 100 in light of £3.4B Intu takeover

Hammerson Plc is likely to leave the FTSE 100 during an upcoming quarterly reshuffle in light of the company's declining share price since it announced its £3.4 billion deal to buy fellow retail real estate investment trust Intu Properties Plc, The Telegraph reported.

The looming exit comes as concerns mount over Hammerson's overexposure to struggling shopping centers in the U.K.

Companies' market capitalization at the close of business Feb 28 will determine the reshuffle, with any movers between the FTSE 100 AND FTSE 250 confirmed the next day, according to the publication.