By Breakingviews
Beware any chief executive without a Plan B. Westfield (WEFIF) boss Peter Lowy is the latest to lack one, declaring on Thursday that despite a big drop in the value of a takeover bid from Unibail-Rodamco (UNRDY), there is no alternative to the sale he and his mall operator agreed in December, originally worth $25 billion including debt. The French buyer also says it has no intention of changing the deal terms. Investors could be forgiven for having other ideas.
The transaction unveiled just before Christmas promises to establish a hulking landlord overseeing