Nothing stands in the way of Vonovia’s new takeover offer for Deutsche Wohnen. Financial supervisory authority Bafin had exempted the Bochum real estate group from the twelve-month blocking period, which would have been effectively due after the failure of the previous takeover bid, Vonovia said Thursday. The exemption was seen as a technical matter after Deutsche Wohnen’s board approved the new attempt. The block is intended to protect listed companies against unwanted “sustained fire” from a bidder. According to Vonovia, the new offering will be presented in August and will run until the end of September or the beginning of October.
Germany’s largest apartment rental company, Vonovia, is now offering 53 euros per share, a total of good 19 billion euros, for its Berlin rival.