Berlin – Now it worked. Vonovia’s takeover of Deutsche Wohnen is perfect. As the Bochum group announced on Tuesday, it has secured around 87.6 percent of the voting rights in Deutsche Wohnen with its improved takeover offer to shareholders. Until October 21st at midnight, the shareholders of Deutsche Wohnen had the opportunity to tender their shares at a price of 53 euros per share.
The takeover creates a group with around 568,000 apartments, more than 100,000 of them in Berlin. In an initial takeover attempt, Vonovia initially failed to achieve the required majority, whereupon it improved its offer to shareholders.
For Deutsche Wohnen shareholders who have accepted the offer by the end of the acceptance period, according to Vonovia, payment of the offer consideration is expected to be made through their custodian banks by November 2, 2021.
“We can now join forces to tackle the major societal and social challenges in the housing market,” explained Vonovia boss Rolf Buch. “We have proven many times that by managing a larger number of apartments we can achieve significant advantages that benefit all stakeholders. We stand by our responsibility to work together with politicians on specific solutions for affordable and climate-friendly living space. “