Westfield deal is still unfair

The deal has been sweetened for shareholders in Westfield Retail Trust, but it's still not a fair split.

The Westfield empire, combining Westfield Group and Westfield Retail Trust, is set to restructure for the third time in a decade. But as the proposal requires 75% of the companies' 200,000 shareholders to approve the deal – and just under half getting a decidedly shorter straw – consent is no sure thing.

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