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Deutsche Wohnen Urges Shareholders To Accept Vonovia's Revised Takeover Offer

Residential property company Deutsche Wohnen SE (DWHHF.PK) Tuesday said its Executive Board and Supervisory Board conclude that the new, improved voluntary public takeover offer by Vonovia SE (DAIMF) is in the best interest of the company, its shareholders and stakeholders.

Based on the analysis, the boards consider the offer price of 53 euros per Deutsche Wohnen share offered by Vonovia as fair and adequate taking into account all relevant key figures. Both boards therefore recommend shareholders to accept the new, improved offer by Vonovia.

The cash offer of 53 euros per share is 17.8 percent above the closing price of the Deutsche Wohnen share on May 21, the last trading day prior to the publication of the decision by Vonovia to submit the first offer takeover offer.

The acceptance period of the offer is expected to end on September 20. The offer is conditional upon reaching a minimum acceptance threshold of at least around 50 percent of the Deutsche Wohnen shares.

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