Vonovia owners back cap hike for Deutsche Wohnen buy

November 30, 2015 12:24 PM

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DUESSELDORF Nov 30 Shareholders in Germany's biggest residential property company Vonovia on Monday backed a capital increase needed for its 14 billion euro ($14.8 billion) hostile offer for peer Deutsche Wohnen.

Vonovia unveiled its takeover approach in October, which Deutsche Wohnen's management rejected as undervaluing the company.

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