LEG Immobilien to see Deutsche Wohnen make voluntary public takeover offer
On September 20, 2015 Deutsche Wohnen AG [DWNI:GR ] decided to make a voluntary public takeover offer to all shareholders of LEG Immobilien AG [LEG:GR] with its registered office in Düsseldorf to acquire their no-par value registered shares in LEG Immobilien AG (by way of an exchange offer), each representing a pro rata amount of the registered share capital of EUR 1.00 (ISIN DE000LEG1110) (the 'LEG-Shares').
In exchange for each LEG-Share tendered to Deutsche Wohnen AG, Deutsche Wohnen AG will offer 3.30 new no-par value bearer shares in Deutsche Wohnen AG as consideration, each representing a pro rata amount of the registered share capital in Deutsche Wohnen AG of EUR 1.00 with dividend rights as of January 1, 2015 (the 'Deutsche Wohnen-Shares'), subject to the final determination of the minimum price and the final terms set forth in the offer document. Deutsche Wohnen AG will appoint two trustees for the required capital increase.
The public takeover offer will presumably be made subject to, inter alia, antitrust clearance (if clearance has not been granted by the time of the publication of the offer document), a minimum acceptance rate of 50% plus one share of the outstanding LEG-Shares as well as the registration of the implementation of the above-mentioned capital increase. Otherwise, the public takeover offer will be made in accordance with the terms and conditions set out in the offer document. Furthermore, insofar as legally permissible, Deutsche Wohnen AG reserves the right to deviate in the final terms of the public takeover offer from the basic information described herein.