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Bloomberg: Vonovia Gets About 28% of Deutsche Wohnen in Takeover Battle

According to Bloomberg: Vonovia SE, fighting to win control of German landlord Deutsche Wohnen AG with a 8.6 billion-euro ($9.4 billion) hostile bid, secured 27.7 percent of its rival a week before the deadline.

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The low level of acceptances, combined with Vonovia’s decision to count convertible bondholders even though they may ultimately not receive shares, suggests that the takeover will probably fail, said Peter Papadakos, an analyst at Green Street Advisors in London. "It seems to me the deal is dead," he said.

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To view the full article on Bloomberg, click here.