The real estate group Vonovia does not give up even after the failed attempt to take over the competitor Deutsche Wohnen: The Bochum-based company now wants to make another attempt with a slightly higher offer.

Vonovia wants to pay the shareholders of Deutsche Wohnen 53 euros per share in cash and thus one euro more than last, as the company announced on Monday night.

First, however, the financial supervisory authority must give Bafin the green light.

Another takeover attempt had recently already emerged, Vonovia boss Rolf Buch had made public statements in this direction.

Together, the two Dax groups are still behind the project.

“Vonovia and Deutsche Wohnen continue to consider a merger of the two companies to be strategically and socio-politically sensible, the press release said.

The Deutsche Wohnen share is also rising

After the start of trading, Vonovia shares rose by 1.2 percent.

Deutsche Wohnen's paper went up 0.2 percent to 52.72 euros.

With the increased offer, Deutsche Wohnen's capital is valued at around 19 billion euros.

Germany's largest real estate group Vonovia wants to acquire at least half of the shares in the number two in the industry again.

Vonovia narrowly failed at this threshold at the end of July.

Vonovia currently holds almost 30 percent of Deutsche Wohnen shares.

The group now wants to present its new offer as soon as possible, but Vonovia will first have to ask Bafin to lift the current one-year blocking period.

If the authority gives the go-ahead, both companies hope to finally get the deal off the ground in the fourth quarter.

It was only a minor increase in the offer, wrote analyst Kai Klose from the private bank Berenberg.

Since larger portfolios also increase the chance of higher profitability and the targeted synergies can be achieved, Vonovia's shareholders should benefit from the deal.

Vonovia, based in Bochum, owned almost 415,000 apartments at the end of March, 354,000 of them in Germany.

According to its own information, this means that the company is already Europe's largest housing group.

Deutsche Wohnen, in turn, is the largest private landlord in the capital: around 114,000 of the more than 155,000 Deutsche Wohnen properties are in the greater Berlin area.

105 million euro synergies

Both companies agree that major challenges on the housing market, such as climate protection, affordable housing and new buildings, can be "mastered much more powerfully" together, it said.

A merger would also be equally beneficial for shareholders, tenants and the housing market.

Both groups expect annual synergies of 105 million euros, as the joint management creates considerable cost advantages.

The Vonovia and Deutsche Wohnen portfolios also complemented each other ideally.

Vonovia failed to take over Deutsche Wohnen in 2016.

Even then, the minimum acceptance rate for the billion-dollar offer was not reached.

Unlike this year, however, the board of directors of Deutsche Wohnen from Berlin rated the offer as hostile and fiercely opposed the plan.