Unibail Rodamco-Westfield: 2 Views from the same Broker

Unibail Rodamco (UL) announced a friendly takeover offer for Australia-based Westfield (WFD) in a deal that values the Australian mall operator at c$25 bn (on EV basis).

Interestingly, Bank of America Merrill Lynch has analysts covering both companies. Following the transaction, the team covering UL has maintained its Buy rating while the one covering Westfield has moved to « Not Rated », arguing that « WFD is no longer trading on the basis of fundamentals. » Continuer la lecture de « Unibail Rodamco-Westfield: 2 Views from the same Broker »

Exane Issues Undeperform Note on Intu Properties But Says Hammerson Could Buy It… The Day the Deal is Announced

Hammerson announced a recommended offer for Intu Properties, the exact same day Exane BNP Paribas’s Michael Burt says « Hammerson is the most obvious acquirer for Intu » in a report date Dec 6 (at 6:18am), yet adding M&A is not an option. Continuer la lecture de « Exane Issues Undeperform Note on Intu Properties But Says Hammerson Could Buy It… The Day the Deal is Announced »