Shopping centre landlord Intu has agreed an extension to the deadline for a consortium led by its largest shareholder, John Whittaker, to make a takeover bid.

The Peel Group, Olayan Group and Brookfield Property now has until 15 November to announce a firm intention to make an offer for Intu.

Earlier this month Intu said it was considering an improved proposal of 215p per share from the consortium.

Intu said an independent committee — excluding the Peel and Olayan Groups, which combined own about 30% of the shares — was considering the proposal.

Earlier this year, Intu’s longtime chief executive David Fischel announced his departure from the company, following a failed £3.4m takeover attempt by rival Hammerson.