Under its Australian billionaire chairman and co-founder Frank Lowy, Westfield has pioneered USA mall redevelopment, introducing upscale food courts, high-end restaurants, bars, cinemas and boutique fashion outlets to entice shoppers. Unibail-Rodamco shares have fallen 1.2 percent. The offer is worth nearly 18% more than Westfield's closing share price on Monday, the companies said Tuesday.
"As Peter said earlier, we have worked at Westfield for a combined 145 years", he said.
The deal values Westfield at $10.01 a share - a 17.8 per cent premium to its last closing price - and will hand shareholders both cash and shares in Unibail-Rodamco. The offer has been unanimously recommended by the board of Westfield, the biggest private sector mall landlord in London and the 12th largest US retail property owner.
The transaction is expected to be completed in the first half of 2018.
Unibail is focused on large sites with heavy footfall and high-profile tenants such as Apple, Zara and Primark and analysts said it would gain from importing the Westfield model.
Dozens of malls in the US are changing hands as part of a mega real estate takeover.
Westfield has some of the best shopping centres in the world. "They will become a dominant player, have the best relationships with retailers and therefore be best placed to create the malls of the future".
As mall owners around the world seek a defense against Amazon.com Inc, Europe's largest commercial landlord is betting the solution lies across the Atlantic.
The billionaire's family will maintain a substantial investment in the group following the merger and serve on various boards. Westfield shares had been down 9 percent this year prior to the deal being made public, and the company has spent years lowering its retail exposure.
Shares of Simon Property Group Inc, the biggest U.S. mall owner, have fallen 8.7 percent this year.
"For Westfield chairman Frank Lowy, the deal represents the culmination of a decades-long career in shopping malls that began when he opened a deli in a western Sydney suburb".
Hammerson Plc this month agreed to buy its smaller competitor, Intu Properties Plc, in a deal that values the latter at about 3.4 billion pounds ($4.6 billion).
North Korea has acknowledged the abductions and allowed Soga and four others to visit Japan in 2002, where they stayed. He said he had planned to go to Russian Federation and turn himself in, and had not expected North Korea to keep him.
Wednesday is expected to be rainy and wintry, so it's not looking hopeful for anyone who wants to see the Geminids at their peak. This year, a crescent moon will leave a relatively dark sky for the shower to populate with light.
Ullah, as confirmed by the Department of Homeland Security ( DHS ), entered the U.S.in 2011 as a chain migrant. Trump also touted his travel ban, which does not apply to the country from which the suspect immigrated.
Diego Maradona travelled to India to unveil a statue of himself and it has attracted ridicule from just about everyone online. One social media user quipped: " Diego Maradona is in India & a statue of him was unveiled at a charity event in Kolkata ".
Trump also ordered the US Department of State to shift the US Embassy in Tel Aviv to the contested city of Jerusalem. The president is accompanied by his Foreign Minister Saluddin Rabbani and other government officials on the visit.
Of course, this change leads to other ones too, such as the new placement of the fingerprint sensor, on the back of the phone. Given the fact that the Nokia 6 (2018 ) already surfaced on TENAA it's only a matter of weeks before it becomes official.
Pacquiao with rumors of the super-fight swirling. and he told TMZ Sports Conor doesn't have a chance in hell of upsetting Manny. Not content with being one of the dominant figures in the UFC, he tried his luck in boxing.
It would remain to be seen how Apple would integrate Shazam , which also faces competitors such as SoundHound. This is pretty low considering the app got valued at $1 billion during its most recent funding round.
He is not a sub for me, he is a regular player, but I have plenty of good strikers and you can not play all of them together. Mustafi missed Sunday's 1-1 draw at Southampton due to a thigh problem and is still absent this time out.
Nokia 5 getting Android 8.0 Oreo beta update
Coming to hardware, this offering from Nokia is packing a Snapdragon 430 Octa-core processor, coupled with Adreno 505 GPU. This feature is not even available on Nexus smartphones and thus it feels great to see it on Nokia 8 and now Nokia 5.
Energy prices jump after explosion at gas hub in Austria
The fire-brigade spokesman Franz Resperger said, as quoted by the SITA newswire, that a gas pipeline exploded underground. It handles some 40 billion cubic meters from Russia, Norway, and other countries per year, Deutsche Welle reported.
SEC orders food review startup to shut down coin offering
Coin offerings often receive investments in the form of cryptocurrency like Bitcoin, which has soared to meteoric heights . These tokens typically use blockchain, which uses cryptography to record transactions which can then be authenticated.
The California wildfires by the numbers
Officials said that by Saturday the Thomas Fire had charred 59,893 hectares (148,000 acres), an area about the size of Chicago. In total, the fires have displaced almost 90,000 people and destroyed roughly 800 structures, The Los Angeles Times reported .
1 magnitude natural disaster strikes near major city
More than 530 people were killed and thousands were injured in the massive tragedy of last Iran natural disaster . In the epicenter of the quake, which struck at about 12:43 local time, the tremor measured magnitude 7-8 points.
Google Launched 3 New Photography Apps
Google Inc. has launched three new photography apps, which form part of the company's new " appsperiments " program. After capturing video in the app, users can preview the footage by scrubbing back and forth with one finger.
Selena Gomez has 'poured her heart' into new music
While Selena's family were said to be apprehensive over her reunion with Bieber, his family have had quite the opposite opinion. She said: "I think he's just keeping his focus on God, and really trying to figure out what counts and what matters".