Vonovia Marginally Increases Offer Price for Deutsche Wohnen -- Market Talk
August 02 2021 - 3:22AM
Dow Jones News
German real-estate company Vonovia isn't giving up on its plan
to buy Deutsche Wohnen, and said it will make a new offer for its
rival after the previous attempt failed. The new price of EUR53 for
each Deutsche Wohnen share is a small increase from the previous
offer of EUR52, Berenberg says, and implies a premium of less than
1% on Deutsche Wohnen's latest closing price on July 30. In
previous statements, Vonovia said the proposed merger would
increase its portfolio value and create synergies. "Residential
real estate gives the possibility to meaningfully enhance the
profitability by owning a larger portfolio, as shown by Vonovia and
its peers over the previous years," Berenberg says.
(olivia.bugault@wsj.com)
(END) Dow Jones Newswires
August 02, 2021 03:16 ET (07:16 GMT)
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