01, March 2018
Westfield’s $3.3 billion incentive to ‘crush’ Myer in deadly pincer move


Myer is likely to be “crushed” in the not-too-distant future by a deadly “pincer move” in part orchestrated by the embattled department store’s own landlord, an equities analyst has warned.

Daniel Mueller from Vertium Asset Management has likened Myer’s situation — and potential competition from Westfield owner Scentre Group — to that of struggling US retailer Sears and its relationship with Seritage Growth Properties, the real estate spin-off of Sears Holdings.

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