The real estate group Vonovia wants to take over Deutsche Wohnen. The changed acceptance threshold ensures buying pleasure on the stock exchange.
Relaxed conditions for the takeover of Deutsche Wohnen by Vonovia were well received by investors on Tuesday.
Shortly after the start of trading on Tuesday, Deutsche Wohnen’s share price rose by 0.72 percent to a record high of 53.02 euros, slightly exceeding Vonovia’s price of 53 euros. For Vonovia shares, it was only 0.04 percent up.
After the failure at the threshold in a first attempt, Vonovia no longer makes the condition originally set again, that at least 50 percent of Deutsche Wohnen shares are tendered, no longer a prerequisite. The company then said that the transaction was now secured. So far Vonovia has secured more than 40 percent of the Deutsche Wohnen shares by Monday evening.
There are no valid reasons for Deutsche Wohnen to refuse to consent to the waiver of the minimum acceptance threshold, according to the takeover target. By waiving the closing conditions of the bid, the acceptance period, which originally expired on September 20th, will be extended by two weeks and will now end on October 4th.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
