A setback for the Westfield empire

The decision to defer a critical vote on the $70 billion restructure of the Westfield empire will give shareholders time to digest the implications of a 'No' vote. But the debacle could have been avoided with better disclosure.

It would appear a reasonable assumption that had the vote not been deferred, the proposed deconstruction of the Westfield empire would have been voted down by Westfield Retail Trust security holders today. The deferral appears designed to give those opposed to the restructuring time to digest the implications of an adverse vote, which aren’t pleasant.


SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles