French property group Unibail-Rodamco has made a bid for the owner of Westfield shopping centres, in a potential deal worth $24.7bn (£18.5bn).

The group, which is offering $7.55 a share for the Australian Westfield Corporation, plans to launch more malls across Europe.

Westfield Corporation has shopping centres in the UK and the US while Unibail-Rodamco has 71 sites in Europe.

Unibail-Rodamco said the takeover would result in a “progressive roll-out of the world famous Westfield brand”.

It follows Hammerson’s £3.4bn approach for Intu.

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