Jun 3, 2014

Mayne: why last week’s vote on Westfield (and Lowy) should stand

Westfield Retail Trust heads to court today. Here's the case for why the process is all wrong.

Stephen Mayne — Journalist and Founder

Stephen Mayne

Journalist and Founder

Westfield Retail Trust will be before Justice Paul Brereton in the NSW Supreme Court this afternoon as it seeks approval for its supplementary information memorandum and the timetable to reconvene its controversially adjourned shareholder vote on the proposed carve-up of the $70 billion global Westfield shopping centre empire.

The controversial restructure would see the assets of Westfield split into two companies — one a property trust, the other dealing with the company’s international assets. Westfield wants the Supreme Court to approve a supplementary booklet to be sent to its shareholders detailing the impacts of the de-merger. It’s an attempt to quell controversy over the de-merger, which has been debated in recent months for its perceived high gearing, high fees and unfair merger ratios.

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2 thoughts on “Mayne: why last week’s vote on Westfield (and Lowy) should stand

  1. Jaybuoy

    its got the hallmarks of the Hockey budget.. the longer its looked at the worse it looks..

  2. Kevin Herbert

    Always admired your pluck Stephen Mayne.

    Keep these stuffed shirts honest!!!!

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