Structure and value of offer is inadequate
Expected synergies are not achievable, disproportionate to transaction volume/costs
Significant discount on medium- and long-term value potential of the Deutsche Wohnen Group
Potential of stand-alone company is more promising, strong dilution of the portfolio and deterioration of profitability to be expected
Combination would lead to worse financing conditions of Deutsche Wohnen, tax loss carryforward would diminish significantly
The Management Board and the Supervisory Board of Deutsche Wohnen today published their joint opinion pursuant to Sec. 27 of the German Securities Acquisition and Takeover Act (WpÜG) regarding Vonovia’s voluntary public takeover bid.
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