German property group TLG makes takeover offer for peer WCM

WCM Beteiligungs und Grundbesitz AG

10/05/2017 19:27

FRANKFURT, May 10 (Reuters) - TLG Immobilien  TLGG.DE  said 
it will make an offer for peer WCM  WCMKk.DE , as the property 
group seeks to expand its commercial real estate portfolio in 
Germany.  
    TLG is offering one of its shares in exchange for each 5.75 
of WCM shares tendered for exchange, valuing WCM each at 3.15 
euros, TLG said on Wednesday.  
    TLG is planning to create the necessary new shares through a 
capital increase.  
    Earlier on Wednesday, Reuters had reported that an offer 
from TLG for WCM was imminent.  urn:newsml:reuters.com:*:nL8N1IC5FD 
 
 (Reporting by Arno Schuetze; Editing by Elaine Hardcastle) 
 ((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters 
Messaging: arno.schuetze.reuters.com@reuters.net)) 
 
Keywords: WCM M&A/TLG