Vienna (pta021/27.03.2015/14:48) - conwert Immobilien Invest SE, traded on the Austrian ATX, announces that the Administrative Board has today published the previously announced, compulsory statement on the takeover offer of Deutsche Wohnen AG.
The Administrative Board has laid out the arguments for and against acceptance of the offer.
With regard to the offer price, the Administrative Board has reached the conclusion that the stand-alone value of the business per conwert share, i.e. the value of the business without taking into account any synergies, is already above the offer price offered by the bidder. Therefore, conwert's Administrative Board has come to the conclusion that, as far as the price offered by the bidder is concerned, the offer price is inadequate. This view is also supported by an inadequacy opinion issued by J.P. Morgan.
The statement and the full list of arguments for and against the offer are available on the company's website at http://www.conwert.at and on the website of the Austrian Takeover Commission at http://www.takeover.at.
This report contains forward-looking estimates and statements that were made on the basis of the information available at this time. Forward-looking statements reflect the point of view at the time they are made. We would like to point out that the actual circumstances and. consequently, the actual results realised at a later date may differ from the forecasts presented in this report for a variety of reasons.