News that the owners of Gloucester Quays, St Oswalds Retail Park and the likes of Bristol's Cribbs Causeway and Cabots Circus are to become part of a new company could be about to change.

In December news broke that Hammerson, the company which created and owns the 224,450sq ft St Oswalds Retail Park, had made a £3.4 billion offer for intu Properties.

If the deal goes through the Peel Group, the parent company of Gloucester Quays manager Peel Lifestyle Outlets, would also have a 15 per cent stake in the new £21 billion super company.

Peel Group's owner and deputy chairman of intu, John Whittaker, was predicted to become the deputy chairman of the new enlarged business.

But now French firm Klepierre - another shopping centre giant - has now stepped into the frame in an attempt to "derail" the tie-up.

According to The Sunday Telegraph "Klepierre has held talks with Hammerson's top shareholders, urging them to force the firm to reconsider its takeover proposal".

The firm is arguing that combining its European portfolio with Hammerson's is "a much more attractive prospect".

According to the Telegraph intu's portfolio would increase Hammerson's exposure to UK retail and that its own portfolio of major shopping centres in prime locations is a better match.

It is understood Klepierre has until April 16 to decide whether it is going to make a firm offer.

St Oswalds Retail Park is home to the likes of B&Q, Mothercare, DW Sports, Costa, SCS, Wren Kitchens and Frankie & Benny's.

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