26.01.2016
Deutsche Wohnen AG DE000A0HN5C6
DGAP-News: Deutsche Wohnen AG: Reduced acceptance threshold demonstrates weakness of Vonovias hostile offer
DGAP-News: Deutsche Wohnen AG / Key word(s): Offer
Deutsche Wohnen AG: Reduced acceptance threshold demonstrates weakness of
Vonovias hostile offer
26.01.2016 / 10:19
The issuer is solely responsible for the content of this announcement.
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Frankfurt am Main/Berlin, 26 January 2016. Deutsche Wohnen reiterates its
rejection towards the hostile takeover offer by Vonovia against the
backdrop of the latest change of conditions in the offer. Despite several
statements made in the past months, Vonovia's management yesterday reduced
the minimum acceptance rate for its offer to 44 per cent of the shares
outstanding at completion of the offer. Therefore, yesterday's statement
that the revised offer would now definitely result in a majority stake in
Deutsche Wohnen is wrong: "The reduction of the acceptance rate merely
shows that Vonovia has realised that a substantial majority of Deutsche
Wohnen shareholders are refusing the hostile offer. The reduction also
proves that Vonovia is not willing to accept the vote of Deutsche Wohnen
shareholders - despite repeated assertions to do so", said Michael Zahn,
Chief Executive Officer of Deutsche Wohnen.
In recent weeks, Deutsche Wohnen has met the majority of its shareholders
again and thoroughly analysed their intentions with regard to the offer.
Based on this analysis, the hostile offer is supported by such a small
number of investors that Vonovia would have fallen far short of the minimum
acceptance rate by the expiry of the tender offer period. "We are convinced
that Vonovia had the same visibility in the past days. Therefore, the only
reason to lower the acceptance rate was to prevent the imminent failure of
the offer", said Michael Zahn.
Deutsche Wohnen reiterates its rejection of the hostile offer with
convincing arguments stated on several occasions. This offer is and
continues to be value-destroying for all shareholders of Deutsche Wohnen.
Deutsche Wohnen
Deutsche Wohnen is one of the largest publicly listed property companies in
Germany and Europe with a business focus on managing and developing its
residential property portfolio. As at 30 September 2015 the portfolio
comprised a total of 149,100 units, of which 147,000 are residential units
and 2,100 commercial properties. The company is listed in the Deutsche
Börse's MDAX and is also included in the leading indices EPRA/NAREIT and
GPR 100.
Important Notice
This publication represents neither an offer for sale nor request for
purchase of securities.
Any statements regarding the future in this document do not represent any
facts and use terms such "will", "expected", "believe", "estimate",
"intend", "strive", and "assume" and other similar phrases. The statements
express the intention, views and current expectations and assumptions of
Deutsche Wohnen and parties acting in concert with Deutsche Wohnen. The
statements directed at the future are based on current planning, estimates
and forecasts, which Deutsche Wohnen and the parties acting in concert with
Deutsche Wohnen have made to the best of their knowledge but do not contain
any statement about their future validity. Future-based statements are
subject to risks and uncertainties, which are generally difficult to
predict and are generally not in Deutsche Wohnen's sphere of influence or
that of the parties acting in concert with Deutsche Wohnen. Please note
that the actual results or events may deviate substantially from those
provided in or removed from the future-based statements.
Contact:
Phone +49 (0)30 897 86-5413
Fax +49 (0)30 897 86-5419
[email protected]
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26.01.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt am Main
Germany
Phone: +49 (0)30 89786-0
Fax: +49 (0)30 89786-5419
E-mail: [email protected]
Internet: http://www.deutsche-wohnen.com
ISIN: DE000A0HN5C6
WKN: A0HN5C
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News Service
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432153 26.01.2016
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