Unibail-Rodamco SE and Westfield Corporation announce that Unibail-Rodamco has entered into an agreement to acquire Westfield to create the world's premier developer and operator of flagship shopping destinations (the "Group"). The proposed transaction (the "Transaction") has been unanimously recommended by Westfield's Board of Directors and Unibail-Rodamco's Supervisory Board. Under the terms of the agreement, Westfield security holders will receive a combination of cash and shares in Unibail-Rodamco, valuing each Westfield security at a price of US$7.55 (or A$10.01) and representing a premium of 17.8% to Westfield's closing security price on December 11, 2017. The Transaction implies an enterprise value for Westfield of US$24.7bn.