Real estate Vonovia is further expanding its share in the takeover target of Deutsche Wohnen

Real estate Vonovia is further expanding its share in the takeover target of Deutsche Wohnen

Real estate Vonovia is further expanding its share in the takeover target of Deutsche Wohnen
The two companies together own around 550,000 apartments valued at more than 80 billion euros.  Source: dpa

The real estate giant Vonovia has further expanded its stake in competitor Deutsche Wohnen. The total number of Deutsche Wohnen shares that were offered to the Bochum industry leader, which he owns or to which he has access, amounted to around 55.56 percent of the voting rights of Deutsche Wohnen on Friday evening, announced on Monday.

The first deadline for the takeover offer ends at midnight. Vonovia is offering 53 euros per share in Deutsche Wohnen. The Bochumers had already secured a share of over 50 percent of the voting rights last week.

Among other things, Vonovia had thrown the minimum acceptance threshold of its around 19 billion euros purchase offer for the smaller rival overboard – the group wanted to prevent another failure. “The transaction can no longer fail due to conditions,” Vonovia boss Rolf Buch had said.

The two real estate giants listed in the leading index Dax together own around 550,000 apartments valued at more than 80 billion euros, most of them in. The Federal Cartel Office had already approved the plans.