Hedgie stumble takes German M&A to surreal heights LiamWardProud
German real estate group Vonovia on July 26 said investors representing just under 48% of Deutsche Wohnen’s equity had tendered into its 52 euro per share cash offer. Since that was below the 50% minimum acceptance threshold, the deal has failed.
Vonovia, led by Chief Executive Rolf Buch, has been buying Deutsche Wohnen’s shares in the market and as of June 30 owned just over 18%, according to Refinitiv data. Deutsche Wohnen’s shares were up 1.3% to 51.80 euros as of 0948 GMT on July 26, while Vonovia’s were down 3.2%.Related Links
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