Vonovia secures more than 60% of Deutsche Wohnen shares (updated)

Deutsche Wohnen SE

07/10/2021 07:02

(Adds details, background)
    BERLIN, Oct 7 (Reuters) - German real estate company Vonovia
 VNAn.DE  said on Thursday it had reached 60.3% of voting rights
to acquire Deutsche Wohnen  DWNG.DE , creating a housing
behemoth with some 550,000 apartments worth over 80 billion
euros ($92.41 billion). 
    Vonovia made a sweetened takeover offer worth 53 euros per
Deutsche Wohnen share, valuing the smaller rival at 19.1 billion
euros, having narrowly failed to pass the 50% threshold over the
summer with a bid of 52 euros.
    It said Deutsche Wohnen shareholders who had not yet
accepted its offer could tender their shares during an
additional acceptance period ending on Oct. 21 for 53 euros in
cash per share. 
    The merger comes amid public anger over rising rents and
housing shortage, especially in the capital Berlin where a
provisional referendum by Berliners last month voted in favour
of expropriating major landlords to help reduce rents.
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($1 = 0.8657 euros)

 (Reporting by Riham Alkousaa, editing by Silke Koltrowitz and
Krishna Chandra Eluri)
 ((Riham.Alkousaa@thomsonreuters.com;))