UPDATE 1-Vonovia secures more than 60% of Deutsche Wohnen shares
(Adds details, background)
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.
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