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Vonovia Launches Public Takeover Offer For Deutsche Wohnen

Vonovia SE (DAIMF) said that it has launched its voluntary public takeover offer for all shares in Deutsche Wohnen SE. The offer period begins Wednesday and is expected to end on 21 July 2021.

Vonovia is offering 52 euros in cash for each Deutsche Wohnen share. The offer price represents a premium of 15.6% on the closing price of Deutsche Wohnen on 21 May 2021, the last day of trading before the offer was announced on 24 May 2021. The two companies already reached agreement on the key terms of the combination on 24 May 2021.

The Management Board and Supervisory Board of Deutsche Wohnen will support the combination of the two companies.

For Vonovia's shareholders, the joint management of the complementary regional portfolios will bring synergies and cost savings of about 105 million euros per year. The cost savings are expected to be fully realized by the end of 2024 and do not yet include benefits from joint financing.

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