Vonovia Now Holds More Than 50% of Deutsche Wohnen Share Capital
September 27 2021 - 5:15AM
Dow Jones News
By Olivia Bugault
Vonovia SE said Monday that it has secured more than 50% of
Deutsche Wohnen SE's share capital as the company has been trying
to buy its German real-estate rival for months.
Vonovia said it was holding roughly 50.49% of Deutsche Wohnen on
Sept. 24, exceeding the 50% minimum shareholder acceptance
threshold.
Vonovia launched a new and final public takeover offer at 53
euros ($62.12) for each Deutsche Wohnen share in late August after
failing in July to gain approval of at least 50% of Deutsche Wohnen
shareholders when the offer price was at EUR52 apiece.
Earlier this month, Vonovia said it was dropping the 50% minimum
threshold requirement in order to secure its acquisition.
At 0825GMT, Vonovia trades 4.2% higher at EUR56.08.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
September 27, 2021 05:00 ET (09:00 GMT)
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