Westfield bid
NZPA-AAP Sydney Mr Frank Lowy has all but completed the $U5328.8 million ($NZ565.5M) privatisation of Westfield International Inc., after gaining acceptances for about 96.7 per cent of the United States property group. The US335c a share bid for Westfield International, the United States arm of Australian property company Westfield Holdings, has been declared unconditional. The offer will be extended to July 14, after which the company will move to compulsory acquisition, Lowy’s bidding vehicle Hampton Investments Inc., said in a statement.
Mr Lowy, chairman of both companies, said institutions and smaller shareholders had responded well to the offer.
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Press, 28 June 1989, Page 39
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100Westfield bid Press, 28 June 1989, Page 39
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