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LEG Share Slump Spells Bad News for Deal With Deutsche Wohnen

Deutsche Wohnen AG shareholders are likely to reject a plan to buy LEG Immobilien AG next week, judging by the performance of LEG’s shares.

LEG has lost more than 6 percent of its market value since Vonovia SE sought to torpedo the deal by making a hostile bid for Deutsche Wohnen on Oct. 14. The shares are trading at about 68.29 euros in Frankfurt, 14 percent less than the current value of Deutsche Wohnen’s all-share bid of about 79.5 euros.