takeover now more likely than ever, page-22

An analyst on FOX CNBC channel said 2 nights ago no one will make a bid because the USA shopping centres are very poor and in addition to that, are exposed to the very people who are defaulting on mortgages and therefore have reduced spending power. Its not about the smaller market cap making these properties net of debt cheaper as a takeover target its the herrendous expenditure required to bring the centres in the USA up to scratch, plus their poor locations.

Westfield and the others he said were only interested in picking the eyes out of the best assets not the whole portfolio.