Deutsche Wohnen – Vonovia buys the majority – economy

In the third attempt, Germany’s largest housing group Vonovia is on target with the multi-billion dollar takeover of competitor Deutsche Wohnen. By the end of the acceptance period, Vonovia was able to secure a majority of 60.3 percent in number two on the housing market, as the Bochum-based Dax group announced on Thursday. This creates a European real estate giant with more than 550,000 apartments, most of them in Germany.

Vonovia boss Rolf Buch had already failed twice because of the takeover of Deutsche Wohnen. He had already ridden his first attack on the competitor in 2016, at that time against his will and without success. At the second attempt this year, he was able to get the Berlin company’s management board and supervisory board on board, but not all of the shareholders involved in Deutsche Wohnen. They offered too few shares. For the third attempt, Vonovia increased the offer by one euro to 53 euros per share. Deutsche Wohnen is thus worth a total of around 19 billion euros.