The country's biggest merger this year would create a European real estate giant with 550,000 apartments whose combined book value stands at more than 80 billion euros. It comes as Deutsche Wohnen has become the focus of popular anger in Berlin over tenant rights and affordable housing.
FRANKFURT: German real estate company Vonovia is launching a fresh attempt to buy rival Deutsche Wohnen with a sweetened bid valuing the company at 19.1 billion euro (US$22.7 billion), it said on Sunday.
Vonovia is planning to submit a new offer at 53 euros per Deutsche Wohnen share, subject to approval by German financial watchdog BaFin. Last month, Vonovia narrowly missed the 50% threshold with its agreed bid worth 52 euros a share.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
