FRANKFURT, Nov 3 (Reuters) - Vonovia does not want to become a minority shareholder of Deutsche Wohnen should it fail to collect more than 50 percent of the peer’s shares, Chief Executive Rolf Buch said.
“If we don’t get 50 percent plus one share then there is no offer,” Buch said on Tuesday on a conference call to discuss Vonovia’s third-quarter earnings. nL8N12Y0FY]
Buch said that the group successfully integrated five peers and reached promised synergy targets. “I have no doubts that it will work out, too, in the sixth case (Deutsche Wohnen),” he said.
Vonovia will embark on a roadshow in coming days to discuss its increased earnings guidance as well as the planned Deutsche Wohnen bid ahead of a Nov 30 shareholder meeting, at which investors will vote on the hostile takeover. (Reporting by Arno Schuetze; Editing by Kirsti Knolle)