Vonovia Launches Final Takeover Offer for Deutsche Wohnen at EUR53 a Share
August 23 2021 - 3:56AM
Dow Jones News
By Olivia Bugault
Vonovia SE said Monday that it is launching its public takeover
offer at 53 euros ($62.01) per outstanding share for Deutsche
Wohnen SE and that this will be its final attempt to buy the
company after having failed already before.
The real-estate company had already said earlier this month that
it had agreed with its German rival to launch the new offer after
failing in July to reach the minimum acceptance threshold of 50%
from Deutsche Wohnen's shareholders when the offer price was at
EUR52 a share. The new deal, worth roughly EUR19.1 billion, would
create Europe's largest residential real-estate group, and
represents a 17.8% premium on Deutsche Wohnen's share price
unaffected by the news of a takeover, it said.
Vonovia said the new price and offer are final. "An increase in
the offer price during the acceptance period or during the
additional acceptance period is irrevocably excluded," it said.
"Nor will a third offer be presented to the shareholders of
Deutsche Wohnen," Vonovia said.
The offer period starts Monday and should end on Sept. 20, it
said.
The combination of the two entities will create synergies and
cost savings, it said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
August 23, 2021 03:51 ET (07:51 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Deutsche Wohnen (TG:DWNI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Deutsche Wohnen (TG:DWNI)
Historical Stock Chart
From Apr 2023 to Apr 2024