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ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“We like businesses that generate lots of cash and are trading at prices that we find attractive.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

 

https://foragerfunds.com/bristlemouth/animal-spirits-fore/

 

 

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This seems to be the Westfield Corp thread, but the code is WFD? Anyway, Westfield is in a TH pending the announcement of a major corporate transaction.

 

AFR suggests

One possibility is a tilt at US mall owner GGP. That company this month rejected a $US14.8 billion bid by Brookfield for the 66 percent of GGP that it doesn't hold.

 

Analysts suggested the ASX-listed group may also be looking to demerge its North American assets, or be contemplating a merger of its real estate interests in France.

 

Read more: http://www.afr.com/street-talk#ixzz5102yeOFa

 

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Looks like a takover bid - $20b cash and scrip bid expected at Westfield

 

the smart money is on a revived bid from European giant Unibail-Rodamco valuing the ASX-listed Westfield at more than $20 billion.

 

The bid is expected to be cash and scrip in nature, and come following a strong run in both companies' share prices

 

It's also expected to be at about a 10 per cent premium to Westfield's last close

.

 

Read more: http://www.afr.com/street-talk#ixzz510vuYCDA

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WFD is in a TH but SCG is still trading and up 3.59%

 

ABOUT US

Scentre Group owns and operates the pre-eminent shopping centre portfolio in Australia and New Zealand with retail real estate assets under management valued at $47.4 billion and shopping centre ownership interests valued at $33.6 billion. This comprises 39 Westfield shopping centres which have strong franchise value and the ability to attract the worldÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s leading retail brands.

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Looks like SCG is not part of the deal

Before 2004, the Lowys controlled three listed vehicles: the management and development flagship, Westfield Holdings, and two passive trusts. At that time, the Lowy money was in the one with the most upside, Westfield Holdings.

 

Then in the last fine-tuning in 2013 the Lowys' $1.76 billion stake in Westfield Group was turned into a 3.95 per cent stake in the new Australasian-focused Scentre Group and an 8.2 per cent stake in Westfield Corporation. The latter is the subject of the Unibail-Rodamco deal, which Lowy has recommended and will be voted upon by Westfield unitholders early next year.

 

Read more: http://www.afr.com/real-estate/commercial/...x#ixzz512MZIykm

 

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SCG is not part of the deal
but SP spiked, along with others in the AREIT market

 

"Winston Sammut of Folkestone Maxim Asset Management said the Westfield deal is expected to reweight the Australian property sector and companies such as Dexus and Goodman that already have a decent weighting in the index would all be expected to benefit.

 

"Index funds will be required to buy increased exposure to the rest of the sector so from that perspective it will be positive for the sector," he said.

 

"Some of the pure funds in Australia can't own offshore stocks.

 

We saw the sector light up yesterday. I don't think that it is about prospective bidders taking out these other companies. I think it was more about increased appetite for their stock."

 

As news of the takeover hit the market on Tuesday, Scentre, which owns and operates local Westfield malls, rose 17ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢, or 4.1 per cent, to $4.35 while its rival Vicinity Centres picked up 2.5 per cent, or 7ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢, to close at $2.87.

 

Read more: http://www.afr.com/real-estate/westfield-u...c#ixzz516ZDb1DL

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