Sir Frank Lowy talks Unibail

Company News

by Rachael Jones

Sir Frank Lowy of Westfield Corporation (ASX:WFD) held a meeting with members to talk about the merger proposal with Unibail–Rodamco this morning.

He says he hopes to create one of the world’s premier developers and operators of Flagship shopping centres.

He said the proposed transaction is the culmination of a strategic journey that Westfield commenced prior to the Global Financial Crisis.

The $32 billion takeover has been given the green light by the Australian Foreign Investment Review Board last week.

The AGM comes today - the same day shareholders vote on the takeover. If approved, the transaction will be implemented by scheme of arrangement.

Shares in Westfield Corporation (ASX:WFD) are down 0.17 per cent to $8.84.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.