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
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.