Bidders for Germany's Aareal bank increase offer to $2.1 billion (updated)

Aareal Bank AG

26/01/2022 06:38

(Adds details)
    BERLIN, Jan 26 (Reuters) - Bidders for Germany's Aareal Bank
 ARLG.DE  on Wednesday increased their offer to 31 euros per
share from 29 euros, hoping to convince big investors such as
Petrus Advisers and Teleios, who had been unhappy with the
price.
    Buyout group Atlantic Bidco, which includes U.S.-based
Advent International and Centerbridge Partners, said the new
bid, which values the lender at 1.86 billion euros ($2.10
billion), was a final offer.  
    Last week it had lowered the acceptance threshold to 60%
from 70% and extended the acceptance period to Feb. 2 from Jan.
19.  urn:newsml:reuters.com:*:nL8N2TY4KM
    Aareal Bank management and the supervisory board support the
deal. However, investors, including Petrus Advisers and Teleios
had rejected the previous offer as too low.  urn:newsml:reuters.com:*:nL8N2TS5JF
 urn:newsml:reuters.com:*:nL8N2SE0XN
    Shares in Aareal were indicated to rise by 8.9% at Lang &
Schwarz premarket trade after the increased offer. 

($1 = 0.8847 euros)

 (Reporting by Kirsti Knolle
Editing by Riham Alkousaa)
 ((kirsti.knolle@thomsonreuters.com;))