The takeover of Deutsche Wohnen by Germany's largest housing group Vonovia is about to fail: The minimum acceptance rate for Vonovia's voluntary offer to shareholders will probably not be achieved, the group announced on Friday afternoon in Bochum.
Management does not assume that the current acceptance rate will increase significantly in the remaining time.
So far, according to Vonovia, only 47.62 percent of the shareholders have accepted the offer.
An essential condition for the execution of the offer is, however, a minimum acceptance threshold of more than 50 percent.
The remaining post-booking period expires on Friday evening at 6 p.m.
Vonovia continues to consider the offer price of EUR 52 per Deutsche Wohnen share to be appropriate.
Vonovia and Deutsche Wohnen share prices came under significant pressure in the afternoon after the announcement.