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Fusionsplan of Vonovia failed

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Fusionsplan of Vonovia failed

But no Mega-Deal in the housing market: Germany’s largest Wohnungskonzern Vonovia has not enough investors of a merger with Deutsche Wohnen can convince. The acceptance rate was significantly off.

The real estate group Vonovia in Übernahmekampf to its smaller competitor Deutsche Wohnen, in all probability, not be able to enforce. The minimum acceptance threshold for the billion offer, according to preliminary state had not been achieved, was announced by the Dax Corporation on Wednesday in Bochum.

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The real estate group Deutsche Wohnen wants to not be the market leader Vonovia. The management Board recommends to the shareholders, the billion-dollar deal to refuse. (14.12.2015)

Germany’s largest real estate group Vonovia grabs his rival. With the backing of the shareholders, he wants the Deutsche Wohnen to buy. The company is struggling but with all means against the hostile Takeover. (30.11.2015)

The acceptance rate is according to preliminary calculations, only about 30 percent, such as the Bochum group on Wednesday announced. Vonovia had last at least 44 per cent of the targeted and in addition also the holders of convertible bonds in the boat gewähnt. The final result should be 15. February will be published.

Including debt would be the Deal of 14 billion euros have been difficult – the biggest ever on the German housing market would have given. With a success of Vonovia had a new Immobilienriese with more than 510.000 flats may arise. The Executive Board of Deutsche Wohnen had the beginning of December submitted to the takeover bid as hostile and, ever since, is strongly against the Plan resisted.

Mieterschutzbund pleased

For the Failure of the takeover plans made Vonovia-Chef Rolf Buch last but not least, the current turmoil in the markets responsible. In this Situation, would have had a large investor other topics in your head as a possible merger of two rock solid real estate investments. Vonovia had from the merger of the millions in savings for example through reduced administrative costs and cost benefits in the maintenance of the buildings we had hoped for. Deutsche Wohnen, however, had its own shareholders prior to accepting the offer warned. Such a step is “wertvernichtend”. The tenants ‘ Association of North Rhine-Westphalia was pleased by the Failure of the Vonovia plans. The Chairman of the Association, Hans-Jochem Witzke told the German press Agency: “We believe that a continued focus on the housing market, the tenants are not helping and also not helping that more homes will be built.”

zdh/hb (dpa, rtr)

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