The split of Westfield's international and domestic operations will enter crucial territory in coming weeks as the Lowy family and senior Westfield executives look to sell the deal to "hostile" investors, The Australian Financial Review reports.
According to the newspaper, several large institutional investors are in disagreement with the Lowy's over the value of the proposed offer and are threatening to vote against it.
To proceed, 75 per cent of security holders are required to support the proposal.
The AFR reports the way in which the offer has been calculated is the key concern among investors, with speculation mounting as to whether the Lowy family will "sweeten" the deal.
Quick Summary:
Lowy family facing hostile reception from investors over proposal.
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