Listen to this article
Give us your feedback Thank you for your feedback.
What do you think?
Unibail Rodamco has entered into an agreement to buy Australia’s Westfield for $24.7bn.
Unibail, the largest commercial property company in Europe, said shareholders in the shopping mall owner would receive a combination of cash and Unibail shares.
The deal would value each Westfield share at $7.55, representing a 17.8 per cent premium to the stock’s closing price on Monday, and implies an enterprise value for Westfield of $24.7bn
Shares in ASX-listed Westfield were placed in a trading halt on Tuesday ahead of the announcement.