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    DWNI   DE000A0HN5C6

DEUTSCHE WOHNEN SE

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

10/07/2021 | 02:02am EST

BERLIN, Oct 7 (Reuters) - German real estate company Vonovia said on Thursday it had reached 60.3% of voting rights to acquire Deutsche Wohnen, 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.

($1 = 0.8657 euros) (Reporting by Riham Alkousaa, editing by Silke Koltrowitz and Krishna Chandra Eluri)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE WOHNEN SE -0.47% 40.19 Delayed Quote.-7.58%
VONOVIA SE -1.03% 50.12 Delayed Quote.-9.89%
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Financials
Sales 2021 827 M 933 M 933 M
Net income 2021 1 301 M 1 468 M 1 468 M
Net Debt 2021 11 337 M 12 795 M 12 795 M
P/E ratio 2021 16,3x
Yield 2021 2,55%
Capitalization 16 028 M 18 017 M 18 090 M
EV / Sales 2021 33,1x
EV / Sales 2022 32,6x
Nbr of Employees 1 339
Free-Float 12,6%
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Mean consensus HOLD
Number of Analysts 12
Last Close Price 40,38 €
Average target price 50,43 €
Spread / Average Target 24,9%
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Michael Zahn Chief Executive Officer
Philip Grosse Chief Financial Officer
Matthias HŘnlein Chairman-Supervisory Board
Lars Urbansky Chief Operating Officer
Dirk Sonnberg Managing Director-Legal & Compliance
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