Pursuits
Deutsche Wohnen Rejects Vonovia's Takeover Offer as Inadequate
- Deutsche Wohnen remains committed to bid for LEG Immobilien
- Offer seen undervaluing Deutsche Wohnen assets, potential
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Deutsche Wohnen AG, Germany’s second-biggest residential landlord, rejected a takeover offer by larger competitor Vonovia SE and said it remains committed to its own bid for apartment owner LEG Immobilien AG.
The premium to Deutsche Wohnen’s share price “does not reflect in any way the potential in NAV growth and the high quality of Deutsche Wohnen’s real estate portfolio,” the company said in a statement Wednesday.