By Olivia Bugault

 

Vonovia SE said Monday that it has secured more than 50% of Deutsche Wohnen SE's share capital in a major step forward for the company's acquisition of its real-estate rival.

The German company said it secured roughly 50.49% of Deutsche Wohnen on Sept. 24.

The company 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 shareholder acceptance threshold requirement in order to secure its acquisition.

The acceptance period for the public takeover offer is due to end on Oct. 4. An additional acceptance period is expected to start on Oct. 8 and end on Oct. 21.

Shares in Vonovia at 1002 GMT trade 3.7% higher at EUR55.80.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

September 27, 2021 06:19 ET (10:19 GMT)

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