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Blackstone, H&F $5.5 Billion Bid for Germany's Scout24 Fails

  • Bidders didn’t reach minimum acceptance of 50% plus one share
  • Scout24 is competing with Axel Springer, EBay on classifieds

Scout24 AG’s shareholders rejected a 4.9 billion-euro ($5.5 billion) bid for the German classifieds company from private equity firms Blackstone Group LP and Hellman & Friedman.

Investors holding 42.8% of the stock accepted the 46-euro-per-share offer. The minimum threshold for the bid to succeed was 50% plus one share by the end of the acceptance period on May 9, according to a statement from the bidders on Tuesday.