A buyout group seeking to take over Germany’s Aareal Bank in a $2.2bn deal said on Tuesday that it had secured commitments from shareholders to tender around 37% of stock after it raised its offer price again.
The buyout group, which includes U.S.-based Advent International and Centerbridge Partners, raised its offer price to 33 euros per share after a sweetened offer for 29 euros failed last month.
The raised offer values Aareal Bank at $2.19bn, Advent and Centerbridge said, adding the buyout group would make a voluntary public takeover offer to all shareholders in due course.
Read more: Reuters
