Unibail-Rodamco agrees to buy Australia's Westfield for $24.7 bln including debt
SYDNEY, Dec 12 (Reuters) - France’s Unibail-Rodamco SE has agreed to acquire Australian mall owner Westfield Corp for $24.7 billion including debt, in what would be the biggest takeover of an Australian company on record.
The companies said in a joint statement that Westfield’s board supports the deal and that Unibail-Rodamco would pay Westfield’s shareholders in cash and shares.
“The acquisition of Westfield is a natural extension of Unibail-Rodamco’s strategy of concentration, differentiation and innovation,” said Unibail-Rodamco Chairman and Chief Executive Officer Christophe Cuvillier in a statement. (Reporting by Byron Kaye; Editing by Edwina Gibbs)