Released on 07.10. 2021 In the third attempt, Germany's largest housing group Vonovia is on target with the multi-billion dollar takeover of competitor Deutsche Wohnen. Photo: Marcel Kusch Already heard? You can now also have your messages read out to you. Simply click on the play symbol in any article or add the article to your personal playlist using the plus symbol and listen to it later. Listen to the article: It was a long struggle, Vonovia boss Rolf Buch had to improve the offer for Deutsche Wohnen. In the third attempt he was able to secure a sufficient majority with the competitor. Bochum \/ Berlin (dpa) - Germany's largest housing group Vonovia is on target in the billion-dollar takeover of competitor Deutsche Wohnen. By the end of the acceptance period, the Vonovia secure a majority of 53, 3 percent of the number two on the housing market, like the Bochum Dax -Corporation announced on Thursday. This creates a European real estate giant with more than 550. 000 Apartments, mostly in Germany. Vonovia boss Rolf Buch had already failed twice because of the takeover of Deutsche Wohnen. Already 2016 he had ridden his first attack on the competitor, at that time against his will and without success. At the second attempt this year, he was able to get the Berlin company's management board and supervisory board on board, but not all of the shareholders involved in Deutsche Wohnen. You offered too few shares. For the third attempt Vonovia increased the offer by one euro to 53 euros per share. Deutsche Wohnen is therefore worth a total of good 14 billion euros. Because Buch also dropped several conditions for the offer, there was ultimately no doubt that the takeover would succeed this time. The hedge fund Davidson Kempner, who wanted to stop the takeover with an application for an injunction, had to give in. Integration can begin The number of shares offered is completely sufficient, said a Vonovia spokeswoman. "We don't need more shares." The integration of Deutsche Wohnen could begin and should be completed by the end 2023. Deutsche Wohnen boss Michael Zahn is to move into the Vonovia board of directors as Buch's deputy. Still runs until 21. October another acceptance phase. Shareholders who have hesitated so far can sell their papers to Vonovia for 53 euros. Vonovia's stake in Deutsche Wohnen could therefore still increase. Vonovia has ruled out a profit transfer and domination agreement for the next three years that could result in a further, possibly higher offer. The deal is particularly controversial in Berlin, where of Deutsche Wohnen around 114. 000 apartments belong. In order to appease critics, Buch had announced, among other things, a limit on the regular rent increases in Berlin up to the year 2026. In addition, Deutsche Wohnen and Vonovia have in Berlin 14. 750 Apartments sold to three state-owned companies for almost 2.5 billion euros. In Berlin it was on 27. September a referendum on the expropriation of large housing groups was successful.