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Westfield Retail Trust (ASX:WRT) has adjourned a decision on the merger of the company with the Westfield Group (ASX:WDC).
Westfield Group’s chairman Frank Lowy said in a meeting yesterday that if the Westfield Retail Group does not approve the proposal, it will go ahead with the separation of Westfield Group regardless.
98 per cent of Westfield group investors voted in favour of the proposal.
The Westfield Retail Trust has delayed a decision on a merger with the Australian side of Westfield Group for up to a fortnight.
Westfield Retail Trust reported a net profit of $ 777 million in the 2013 calendar year.
