Deutsche Wohnen soars 15% on €18B merger deal

Dienstag, 25. Mai 2021 11:13

The price of Deutsche Wohnen's shares surged as much as 15% on Tuesday following the news that the company reached an €18 billion merger agreement with Vonovia.

To address the antitrust concerns, Germany's two largest landlords agreed to limit yearly regular rent increases in Berlin to 1% for the next three years. If the deal is approved, it will create a company with a market valuation of around €48 billion.

Deutsche Wohnen stock jumped 15.49% to trade for €51.96 per share at 11:09 am CET a day after the merger announcement.

Related Links: Vonovia SEDeutsche Wohnen SE
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