To make it simple add the shareprice of both companies together...

To make it simple add the shareprice of both companies together and if it is more than before the split was announced then it has created value as far as the stock market goes.
I'm taking up my entitlement and i severely doubt anyone wont, as to this getting voted down look at the share register, between the Lowy family and directors they can pretty much do what they want.

Anyone who doubts the judgement of the Lowy family should not hold this stock, it would be like owning newscorp stock whilst not having confidence in Rupert Murdoch.

The people who run the company are directly responsible for creating value through running that business well, i would not purchase or hold any stock where i did not believe in it's management.

Ps: In my opinion westfield online will have no effect on business as usuall, this is just another way to expand thier presence into another area.