End of the Year Summary – the Majors

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Aveo: The complexity of creating new business models that investors can have confidence in is proving to be more challenging than experts predicted. Stockland has used up its requested two months and asked for another month to review FKP/Aveo before committing to a union.
Babcock & Brown Communities: Lend Lease has come back and asked to vary its terms of its union with BBC, terms that were only proposed approximately eight weeks ago.
Prime Trust: Investors were informed this week Prime Trust is staging a review over Christmas that could include proposing a merger with Lend Lease/BBC, sale of some villages and aged care facilities (or the sale of them all) and a reduction to just essential construction and refurbishments only.
Becton: Reviewing.
Aevum: Business as usual, now that Stockland says it has no intention to increase its stake.

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