Unibail rights issue cancelled as activists victorious

Unibail_rodamco_westfield_2_PA_575x375_Nov10
By Sam Kerr
10 Nov 2020

Shopping centre group Unibail-Rodamco-Westfield's planned €3.5bn rights issue has been cancelled after a group of activist shareholders convinced investors to reject it ahead of an extraordinary general meeting.

Shareholders were invited to vote remotely on the rights issue before the scheduled meeting on Tuesday, in accordance with Covid-19 restrictions introduced by the French government.

Unibail revealed on Tuesday that shareholders had rejected the resolution to give the management the authority to undertake the rights issue and ...

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