If UBS think that WFD is worth $9.35 around the current exchange rates and we are selling to Unibail Rodamco for $8.93 (todays price), you would think that Unibail Rodamco would be worth more than what they were trading at just before the takeover. Is the discount due to the uncertainty of the takeover and that Westfield have not released forward guidance? If so, should we expect increases in Unibail Rodamco over the next 10 months up to Euro 250? If this is the case at the current exchange rates WFD would be worth $10.57. Or in Unibail Rodamco Westfield (URW) CDI's, AU $19.14 per share (to convert WFD to URW multiply your number of shares by 0.3688, add about $3.65 per WFD share as cash and One Market.
Taking out the cash (i.e. you buy some shares today and get 1/3 rd back in 2 weeks, that's a 30% increase.
What are other peoples thoughts?
WFD Price at posting:
$8.92 Sentiment: Buy Disclosure: Held
