Goldman Sachs updated their sell today saying nothing has changed in their opinion it is still a sell.
Macquarie have withdrawn their outperform and labeled the transaction far from compelling.
S&P have downgraded the ratings on Westfield to negative.
I cant see shareholders supporting this deal and i think the shares could be in for a rough time as the rumours didn't turn out to be positive with the latest rally the shares have enjoyed.
Shouldnt they also openly disclose a 2.5 billion loss for the quarter on their US property holdings June financials had them valued at Aussie Dollar of 84 cents?
I reckon the split is just a cheats way of introducing a capital raising and make it look glossy. The credit raising of 3.5 Billion gives them 1 Billion more dollars than the loss in the last quarter. Its all smoke and mirrors.
I reckon it could be back to $12.00 in the next few days lets see what the markets thinks.
WDC Price at posting:
$9.99 Sentiment: Sell Disclosure: Not Held
