Unibail of France and Rodamco Europe of the Netherlands have succeeded in creating Europe's biggest listed property company.

The two companies announced today that 79.6% of Rodamco’s shareholders had accepted Unibail’s takeover offer, and the deal was declared unconditional.

The combined property company will have a market capitalisation of about £12.4bn, topping Land Securities and British Land , which are valued at £8.1bn and £7bn respectively.

Some analysts have predicted a counterbid might be made for Rodamco Europe, citing Australia's Westfield Group and Simon Property of the US, but this possibility has ended.

Unibail has extended the period for remaining Rodamco Europe shareholders to tender their shares until 10 July for the same price as the initial offer, being 0.5223 Unibail shares for each Rodamco Europe share.

Unibail-Rodamco will be the new name for the combined company. The two said they would delist Rodamco Europe shares from the Frankfurt Stock Exchange and Euronext exchanges in Paris, Brussels and Amsterdam.

Unibail and Rodamco said they expected Unibail shares to start trading on Euronext Amsterdam and Paris on June 22.