Will Lowy's tinkering placate Westfield investors?

Frank Lowy's sweetened deal on the Westfield restructure shows just how determined he is to get it across the line. But it still may not be enough to appease the critics.

It’s not often that Frank Lowy has blinked under pressure from investors, but last evening’s tinkering with the terms of the proposed restructuring of the Westfield property empire is an indication of both the level of opposition to the deal and his own determination to get it across the line.

The Lowys had been adamant that the terms of the restructuring, which will see Westfield’s Australasian operations merged with the Westfield Retail Trust to form the new Scentre Group, were fair and wouldn’t be changed.

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