Deals
Vonovia Launches Offer for Rival German Landlord Deutsche Wohnen
- Takeover could create entity that controls 500,000 apartments
- Billionaire Paul E. Singer has taken stake in Deutsche Wohnen
The Deutsche Wohnen SE Siemensstadt Settlement apartments in Berlin.
Photographer: Liesa Johannssen-Koppitz/BloombergThis article is for subscribers only.
Vonovia SE formally launched its takeover offer for rival Deutsche Wohnen SE in a deal that could see Germany’s two largest residential landlords combine into an entity controlling more than 500,000 apartments.
Under the deal, Vonovia is offering 52 euros ($62) in cash for each Deutsche Wohnen share, Vonovia said in a statement Wednesday. The offer represents a premium of 15.6% on the closing price of Deutsche Wohnen on May 21, the last day of trading before the offer was announced, Vonovia said.