Deutsche EuroShop Recommends Shareholders Accept Takeover Offer Of Hercules

Deutsche EuroShop AG (DUSCF.PK), a German real estate investment firm, said on Tuesday that it has recommended its shareholders to accept the voluntary public takeover offer by private investment funds managed by Oaktree and CURA, through Hercules BidCo GmbH.

The proposed cash consideration of 21.50 euros per share, which could be increased by the amount of the dividend expected to be paid for the financial year 2021 in the sum of 1 euro to 22.50 euros per share.

The increased offer consideration represents a premium of 44 percent to the XETRA closing price of the company's share on May 20 at 15.63 euros.

On the last trading day, prior to the publication of the Bidder's offer, the equity value of Deutsche EuroShop was at around 1.4 billion euros.

Shareholders of Deutsche EuroShop can still accept the offer, presumably until July 7, with an expected transaction closure in the third quarter.

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