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Paris, Amsterdam, June 29, 2018 - (ACN Newswire) - On June 7, 2018, Unibail-Rodamco SE announced that it had completed the acquisition of Westfield Corporation to create Unibail-Rodamco-Westfield (the ...
Today we’re going to take a look at the well-established Westfield Corporation (ASX:WFD). The company’s stock had a relatively subdued couple of weeks in terms of changes in share price,Read More...
The future of online retail lies in bricks and mortar stores. That's the belief of European shopping centre giant Unibail-Rodamco's chief executive Christophe Cuvillier, who plans to buy Frank Lowy's Westfield ...
The prospect of a rival bid for Westfield Corporation cannot be ruled out, analysts say after Westfield agreed to a $US24.7 billion ($A32.7 billion) takeover by a European property giant. Shares in the Australian company which owns shopping centres in the US and UK soared a day after Westfield announced it had agreed to sell the business to Unibail-Rodamco. JP Morgan analysts say it is possible that a rival bid could emerge amid a raft of merger and acquisitions in the global shopping centre sector.
Shares in Westfield Corporation have soared after the company agreed to a $US24.7 billion ($A32.7 billion) takeover from Paris property giant Unibail-Rodamco. Westfield shares were placed in a trading halt on Tuesday ahead of the takeover announcement, and after resuming trade on Wednesday were up $1.22, or 14.4 per cent, at $9.72 at 1115 AEDT. The takeover offer values each Westfield security at $10.01, and has been recommended to shareholders by chairman and major shareholder Frank Lowy.
Shares in Australian shopping centre giant Westfield soared Wednesday after French property firm Unibail-Rodamco agreed to buy the group, with founder Frank Lowy congratulated on his "impeccable timing". In a deal valuing Westfield at US$24.7 billion, shareholders will receive the equivalent of Aus$10.01 in cash and stock for each share they hold. The biggest-ever corporate takeover in Australia will create a combined portfolio of the merged companies including key centres such as Westfield London and Westfield World Trade Center in New York.
PARIS (AP) — The owner of Westfield shopping centers is being bought by French property investor Unibail-Rodamco for $15.7 billion as shop retailers struggle to keep up with the move to online sites like Amazon.
Westfield chairman Frank Lowy describes the $US25 billion ($A35 billion) sale of his shopping centre empire that also heralds his retirement as a bittersweet moment. The company he founded and listed on the sharemarket in 1960 is to sell its 35 UK and US operations to European shopping centre owner Unibail-Rodamco in one of the largest corporate deals in Australia's history. Westfield's Australian centres, which are managed by the separately listed Scentre Group, are unaffected.
Westfield Corporation has agreed to a $US24.7 billion ($A32.7 billion) takeover from a Paris property giant that will end the Lowy family's control of the shopping centre giant but also spread the Westfield brand across Europe. Unibail-Rodamco is the largest commercial landlord in Europe, with interests in shopping centres, offices and exhibition centres. It will pay a combination of cash and shares for control of Westfield, at a value representing a premium of 17.8 per cent on the most recent trading value of Westfield securities.
Unibail-Rodamco SE, Europe’s largest commercial landlord, agreed to buy Australia’s Westfield Corp. for about A$21 billion ($15.8 billion) in the biggest property acquisition since 2013 as declining store ...
Dec.12 -- Jaap Tonckens, chief financial officer at Unibail-Rodamco, discusses a deal with Westfield and his thoughts on the retail sector. He speaks with Matt Miller and Anna Edwards on “Bloomberg Markets: Europe.”