Adler Real Estate shares up on Ado takeover offer

Adler Real Estate AG

16/12/2019 06:54

FRANKFURT, Dec 16 (Reuters) - Shares in German property
group Adler Real Estate  ADLG.DE  were up 13.7% in early
Frankfurt trade on Monday, following an agreed takeover offer by
domestic peer Ado Properties  ADJ.DE  on Sunday.
    Ado on Sunday said it would offer equity from a capital
increase to Adler investors at a rate of 0.4164 Ado shares for
each Adler share, valuing the target at about 1 billion euros
($1.1 billion) at Friday's closing price. urn:newsml:reuters.com:*:nASN00016Y
    Ado shares were down 1.6% in early Frankfurt trade.
    ($1 = 0.9073 euros)

 (Reporting by Ludwig Burger
Editing by Michelle Martin)
 ((ludwig.burger@thomsonreuters.com; +49 69 7565 1311; Reuters
Messaging: ludwig.burger.thomsonreuters.com@reuters.net))