German RE Firm Deutsche Wohnen Eyes €2B Deal For Rival

Law360, New York (August 20, 2013, 4:48 PM EDT) -- German real estate firm Deutsche Wohnen AG has made an offer to buy its rival GSW Immobilien AG in a €1.75 billion ($2.35 billion) stock swap to claim more of Berlin's residential market, it said Tuesday.

The bid comes as GSW is leaderless, after shareholders passed a vote of no-confidence against newly minted CEO Bernd Kottmann, who resigned July 15. GSW said that it would review Deutsche Wohnen's offer before making a decision.

Deutsche Wohnen denied that GSW's leadership troubles triggered the proposed merger, saying that...
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