BERLIN (dpa-AFX) - The executive board and supervisory board of Deutsche Wohnen have recommended its shareholders to accept a take over offer from Vonovia.
Both boards believe that the offer is fair and adequate and offers Deutsche Wohnen shareholders the opportunity for a secure, timely and fair realization of value.
Last month, Vonovia launched its voluntary public takeover offer for all shares in Deutsche Wohnen SE.
Vonovia is offering 52 euros in cash for each Deutsche Wohnen share.
The acceptance period for the offer has started with the publication of the offer document on June 23 and will end on July 21, 2021. The success of the offer is conditional upon reaching a minimum acceptance threshold of at least 50 percent of the Deutsche Wohnen shares issued at the time of the expiry of the acceptance period as well as the fulfilment of other customary closing conditions.
Copyright RTT News/dpa-AFX
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