Corporate Action: Westfield Security Holders to Vote Yes to Merger with Unibail-Rodamco
Narrow moat-rated Westfield Corporation is proposing to merge with Unibail-Rodamco, with a shareholder vote on a series of interrelated proposals scheduled for May 24, 2018. Consideration comprises 0.01844 Unibail securities plus USD 2.67 cash for each Westfield security, which amounted to USD 7.55 (or AUD 10.01) when the proposal was announced on Dec. 12, 2017. However, the subsequent decline in the price of Unibail scrip and currency movements has reduced the consideration to USD 7.06 (or AUD ...Westfield is engaged in the ownership, development, design, construction, asset management, leasing and marketing activities with respect to its U.S. and U.K. portfolio. Co.'s operational segment comprises the property investment and the property and project management segments. Property investments segment includes activities related to existing shopping centres and completed developments. Property and project management segment includes property management and development for third parties.
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