Shares in Australia's Westfield rise 15pc after $16bn Unibail bid

SYDNEY: Shares of Australian shopping mall giant Westfield Corp rose as much as 15 percent on Wednesday, their biggest single-day gain, after the company said it would accept a $16 billion takeover offer from France's Unibail-Rodamco SE.

The shares hit a high of A$9.77 after coming out of a trading halt at 0000 GMT before easing to A$9.73, up 14.5 percent, while the broader market was up 0.1 percent.

That was below Unibail-Rodamco's offer of A$10.01, reflecting risks that Australia's biggest company takeover on record may encounter regulatory challenges.