Deutsche Euroshop set for best day ever on $1.48-bln takeover bid

Deutsche Euroshop AG

23/05/2022 08:55

** Shares in Deutsche Euroshop  DEQGn.DE  soar 41.5%, on
track for their best day ever, after a consortium of bidders
offered 1.4 billion euros ($1.48 billion) to buy the German
shopping centre investor  urn:newsml:reuters.com:*:nL5N2XF1B8
    ** The company says Hercules BidCo is to offer 21.50 euros
per each Deutsche Euroshop share
    ** In addition, the shareholders who accept the offer will
receive the amount of the dividend payable for the FY 2021,
expected to be EUR 1.00 per share, resulting in a total offer
value of EUR 22.50 per share, the company adds 
    ** The offer represents a 44% premium to Deutsche Euroshop's
closing price of 15.63 euros on Friday
    ** Hercules Bidco is controlled by financial investor
Oaktree Capital and Cura Vermoegensverwaltung, which is owned by
German Alexander Otto
    ** Otto already owns around one fifth of the Hamburg-based
Deutsche Euroshop
    ** Shares hit highest level in more than two years, surging
to about 22 euros

 (Reporting by Linda Pasquini)
 ((Linda.pasquini@thomsonreuters.com))