Vonovia Secures 50.49% Stake in Deutsche Wohnen -- Update
27 September 2021 - 12:34PM
Dow Jones News
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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