5/25/2021, 11:13 AM (Source: TeleTrader)
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Deutsche Wohnen soars 15% on €18B merger deal

The price of Deutsche Wohnen's shares surged as much as 15% on Tuesday following the news that the company reached an €18 billion merger agreement with Vonovia.

To address the antitrust concerns, Germany's two largest landlords agreed to limit yearly regular rent increases in Berlin to 1% for the next three years. If the deal is approved, it will create a company with a market valuation of around €48 billion.

Deutsche Wohnen stock jumped 15.49% to trade for €51.96 per share at 11:09 am CET a day after the merger announcement.

Baha Breaking News (BBN) / ND