Aareal slides in premarket after $2.1 bln takeover attempt fails

Aareal Bank AG

07/02/2022 07:01

** Aareal Bank  ARLG.DE  shares are down 8.6% in Germany's
Lang & Schwarz premarket trade after a buyout group seeking to
take over the bank said on Friday the bid had failed
 urn:newsml:reuters.com:*:nL1N2UF1RL
    ** The buyout group, which included U.S.-based Advent
International and Centerbridge Partners, said the minimum
acceptance threshold of 60% had not been reached after most
shareholders had refused the $2.1 bln takeover offer
    ** "Steep fall after-hours makes absolutely no sense as
failure was more than clear, finally," a local trader commented 
    ** Aareal Bank sits at the bottom of Germany's small-cap
index  .SDAXI  in Lang & Schwarz premarket trading
    

 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))