Stand off over Westfield Trust
Investors in Westfield Retail Trust face at least another fortnight of uncertainty as they await new offer documents and conflicting advice.
Having shown their unease last week on the proposal by seeking an adjournment of the meeting to consider creating the new Scentre Group, WRT shareholders must now decide whether to defy Frank Lowy’s threat that he will demerge regardless of how WRT will vote.
Analysts said the current position ”defies logic” and could see a repeat of the same scenario, with proxies lodged by WRT securityholders in favour of the proposed merger again falling short of what is needed to push the restructure over the line. Sydney Morning Herals – Read more…