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)

Copyright (c) 2021 Dow Jones & Company, Inc.
Deutsche Wohnen (XE:DWNI)
Historical Stock Chart
From Sep 2021 to Oct 2021 Click Here for more Deutsche Wohnen Charts.
Deutsche Wohnen (XE:DWNI)
Historical Stock Chart
From Oct 2020 to Oct 2021 Click Here for more Deutsche Wohnen Charts.