The management and supervisory boards of German lender Aareal Bank have issued a joint statement recommending the acceptance of an improved takeover offer for the firm by Atlantic BidCo.
The takeover company is indirectly held by financial investors Advent International Corporation and Centerbridge Partner.
Under the proposal, shareholders have been offered €33 in cash per each Aareal share compared to a previous bid of €29 a share, which was also approved by the Aareal board.
The board said that the new offer is considered ‘fair and adequate’.
The management and supervisory boards of German lender Aareal Bank have issued a joint statement recommending the acceptance of an improved takeover offer for the firm by Atlantic BidCo.The acceptance period for the offer has commenced with the publication of the Offer Document on 26 April 2022, and is expected to expire on 24 May 2022.
