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    VNA   DE000A1ML7J1

VONOVIA SE

(VNA)
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Vonovia Secures 50.49% Stake in Deutsche Wohnen -- Update

09/27/2021 | 06:20am EST

By Olivia Bugault

Vonovia SE said Monday that it has secured more than 50% of Deutsche Wohnen SE's share capital in a major step forward for the company's acquisition of its real-estate rival.

The German company said it secured roughly 50.49% of Deutsche Wohnen on Sept. 24.

The company launched a new and final public takeover offer at 53 euros ($62.12) for each Deutsche Wohnen share in late August after failing in July to gain approval of at least 50% of Deutsche Wohnen shareholders when the offer price was at EUR52 apiece.

Earlier this month, Vonovia said it was dropping the 50% minimum shareholder acceptance threshold requirement in order to secure its acquisition.

The acceptance period for the public takeover offer is due to end on Oct. 4. An additional acceptance period is expected to start on Oct. 8 and end on Oct. 21.

Shares in Vonovia at 1002 GMT trade 3.7% higher at EUR55.80.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

09-27-21 0619ET

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE WOHNEN SE 1.67% 40.27 Delayed Quote.-9.34%
VONOVIA SE -0.31% 48.85 Delayed Quote.-12.46%
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Analyst Recommendations on VONOVIA SE
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Financials
Sales 2021 2 385 M 2 699 M 2 699 M
Net income 2021 4 261 M 4 822 M 4 822 M
Net Debt 2021 33 529 M 37 948 M 37 948 M
P/E ratio 2021 6,47x
Yield 2021 3,52%
Capitalization 28 188 M 31 923 M 31 903 M
EV / Sales 2021 25,9x
EV / Sales 2022 22,8x
Nbr of Employees 16 051
Free-Float 74,1%
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Mean consensus BUY
Number of Analysts 13
Last Close Price 48,85 €
Average target price 63,99 €
Spread / Average Target 31,0%
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Managers and Directors
Rolf Buch Chairman-Management Board & CEO
Helene von Roeder Chief Financial Officer
JŘrgen Fitschen Chairman-Supervisory Board
Marcel Kleifeld Head-Human Resources & Technical Services
Klaus Rauscher Independent Member-Supervisory Board
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