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12/16/2020, 12:31 PM (Source: TeleTrader)
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Court rejects Postbank takeover lawsuit against Deutsche Bank

Higher Regional Court in Cologne rejected on Wednesday a lawsuit against Deutsche Bank concerning its takeover of Postbank in 2010.

Former small stockholders of Postbank sought that Deutsche Bank pays over previously-accepted €25 per share for the takeover, while alleging that Deutsche Bank had paid more than the aforementioned amount when gaining a "de facto" controlling stake in Postbank in 2008.

However, the court determined that the stake bought in 2008 totaled 29.75%, under the 30% percent mark, above which the buyer would have an obligation to extend the same offer to the other shareholders.

Breaking the News / MS