Deutsche Wohnen CEO says Conwert bid outcome will be tight

April 9, 2015 5:00 PM

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VIENNA, April 9 (Reuters) - The outcome of Deutsche Wohnen's bid for at least half of Austrian property group Conwert plus one share will be "tight" when the offer runs out next week, the German company's chief executive, Michael Zahn, said.

Conwert said last month its administrative board had concluded that Deutsche Wohnen's 11.50 euro per share takeover bid -- worth up to 1.2 billion euros ($1.3 billion) -- was inadequate.

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