S IMMO AG (WBAG:SPI) made an offer to acquire 10.8% stake in IMMOFINANZ AG (WBAG:IIA) for approximately €310 million on December 6, 2021. S IMMO sets the Offer Price at €23.00 cum dividend in cash per IMMOFINANZ share, which represents a compelling offer for IMMOFINANZ shareholders based on a premium of 7.7% to the last closing price of the IMMOFINANZ share. As of January 10, 2022, the Executive Board and Supervisory Board therefore recommend that shareholders not accept the offer. Board stated that offer price is not sufficiently attractive. As of January 17, 2022, offer is extended for acceptance to February 23, 2022.
J.P. Morgan acted as financial advisor to S IMMO AG.