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BUZZ-Hammerson: jumps on $6.8 bln takeover approach from Klepierre

Reuters - UK Focus

(Adds analyst comment, Hammerson (Frankfurt: 876140 - news) response, updates shares)

** Shares (Berlin: DI6.BE - news) of Hammerson up +26 pct after 4.88 bln pounds ($6.81 bln) takeover approach from French shopping centre operator Klepierre (LSE: 0F4I.L - news)

** Klepierre said proposal was made on March 8 and Hammerson rejected it in less than 24 hours

** Hammerson: Klepierre proposal "very significantly" undervalues the company

** Klepierre offered 615 pence per share, a premium of about 41 percent to Hammerson's closing price on March 16

** Klepierre shares down 3.5 pct

** Hammerson shares YTD, as of Friday's close, -20 pct, Jefferies says "weakness in share price might have attracted a late bidder"

** Hammerson agreed in Dec (Shanghai: 600875.SS - news) to buy smaller rival Intu (Swiss: OXIGTU.SW - news) Properties for about 3.4 bln pounds; Hammerson says ‍"remains fully committed" to Intu acquisition ($1 = 0.7181 pounds) (RM (LSE: RM.L - news) : justin.varghese.thomsonreuters.com@reuters.net)