Reuters first with news that Vonovia takeover of Deutsche Wohnen likely to fail; market reacts

Last Updated on 27/07/2021 by

Business & FinanceDeals

Reuters was first to report that Europe’s biggest real estate takeover could fall through, revealing that it was likely Germany’s Vonovia did not secure sufficient backing from the shareholders of takeover target Deutsche Wohnen, meaning it would miss the 50% acceptance threshold needed for the deal to go through. Vonovia CEO Rolf Buch then spoke to Reuters exclusively, saying that while the company needs to analyse the new situation now, it could do without a takeover of its smaller rival.

Market Impact

The news sent Deutsche Wohnen shares 2% lower and prompted Vonovia to issue a regulatory statement that confirmed all the details of the Reuters story.

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & FinanceEquities

Regions: Europe

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

Source link