Frank Lowy, may be preparing the ground for a change in the terms of the shopping mall owner's proposed $70 billion restructure because of a backlash from...

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Frank Lowy, may be preparing the ground for a change in the terms of the shopping mall owner's proposed $70 billion restructure because of a backlash from investors. Westfield is hosting institutions at a briefing tomorrow at its Miranda shopping centre in Sydney's south where opposition to the deal is expected to be heard. A survey by top-tier brokerage CLSA, revealed over the weekend by The Weekend Australian, shows 58 per cent of investors surveyed in Westfield Retail Trust are planning to vote against the deal, which many ¬regard as too favourable to Westfield. This is likely understated, as most investors answered anonymously, analyst John Kim said in the note to clients. Now market sources are indicating that there may be some room for Westfield Retail to renegotiate either the terms of the proposal or at least to refashion it as more saleable. Read More: (VIEW LINK)


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