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Deutsche Wohnen:Minority shareholder buyout (DPLTA): Difference between revisions
Deutsche Wohnen:Minority shareholder buyout (DPLTA) (view source)
Revision as of 14:01, 20 September 2024
, 20 September 2024→TLG IMMOBILIEN AG and WCM AG DPLTA
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* 83 shareholders went to court to challenge the compensation<ref>https://www.tlg.de/tlg.de/Data%20Objects/Downloads/anleihen/hybrid/20190923_Hybrid_Prospekt.pdf</ref>. One of the shareholders that criticized the offer was SdK Protection Association of Capital Investors. According to SdK, the fact that valuers concluded that WCM's future sales was likely to decline was not tenable. They also complained that values used a higher beta of 0.375<ref>https://sdk.org/veroeffentlichungen/pressemitteilungen/wcm-ag-schliesst-beherrschungsvertrag-mit-tlg-immobilien-ag-sdk-beantragt-spruchverfahren/</ref>. | * 83 shareholders went to court to challenge the compensation<ref>https://www.tlg.de/tlg.de/Data%20Objects/Downloads/anleihen/hybrid/20190923_Hybrid_Prospekt.pdf</ref>. One of the shareholders that criticized the offer was SdK Protection Association of Capital Investors. According to SdK, the fact that valuers concluded that WCM's future sales was likely to decline was not tenable. They also complained that values used a higher beta of 0.375<ref>https://sdk.org/veroeffentlichungen/pressemitteilungen/wcm-ag-schliesst-beherrschungsvertrag-mit-tlg-immobilien-ag-sdk-beantragt-spruchverfahren/</ref>. | ||
* The court dismissed the appraisal proceeding in October 2019<ref>https://ircenter.handelsblatt.com/websites/ircenter_handelsblatt10/German/9020/news.html?newsID=1860551&companyDirectoryName=wcm</ref>. | * The court dismissed the appraisal proceeding in October 2019<ref>https://ircenter.handelsblatt.com/websites/ircenter_handelsblatt10/German/9020/news.html?newsID=1860551&companyDirectoryName=wcm</ref>. | ||
* The share exchange ratio used in the DPLTA is the same as that used in the takeover of shares in May 2017<ref>https://www.immobilienmanager.de/tlg-uebernimmt-wcm-11052017</ref>. | |||
'''''Assessment: The share exchange ratio was based on fair value of the company and not NAV or weighted share price.''''' | '''''Assessment: The share exchange ratio was based on fair value of the company and not NAV or weighted share price.''''' | ||