Trading in US and UK shopping centre developer, owner and manager Westfield Corp Ltd (ASX: WFD) has been halted at the request of the company, pending the release of an announcement to the market.
The company stated it "is in discussions in relation to a potentially significant corporate transaction", with the expectation that an announcement will be made to the market prior to normal commencement of trade on 14 December.
I recently wrote that Westfield appears good value for income investors seeking exposure to quality, overseas real-estate assets, and am looking forward to reading the subsequent announcement from the group.
Westfield shares are down almost 10% in 2017, as negative sentiment towards bricks-and-mortar retailing continues. I believe Westfield has been unjustly sold down, given it mostly owns major, premium shopping centres where store sales and rents have performed solidly.