DataRoom AM: Lowy’s sweetener

Frank Lowy finally gives in to shareholders ahead of a crucial vote for Westfield’s restructure, while Woolworths’ credit card partnership with HSBC comes to an end.

Frank Lowy has yielded to the demands of Westfield Retail Trust shareholders by altering the details of the property giant’s mammoth restructure. With the deadline for the shareholder vote fast approaching and the likelihood of a successful vote dissipating, Lowy really had no other choice.

Elsewhere, Macquarie Bank acquires HSBC’s Woolworths-linked credit card portfolio, America’s largest hospital operator jumps into the front seat for Healthscope and another infrastructure asset readies for a buyer frenzy.

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