ISS now against Deutsche Wohnen's planned LEG takeover

October 16, 2015 2:05 PM

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FRANKFURT Oct 16 Shareholder advisor ISS has changed its recommendation on German property group Deutsche Wohnen's planned takeover of peer LEG after Vonovia announced to launch a rival offer earlier this week.

"The Vonovia offer appears to be superior to the proposed LEG acquisition and is contingent upon Deutsche Wohnen shareholders rejecting this share capital issuance," ISS said in a note issued on Friday.

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