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NOT A SUBSCRIBER?Germany launches Hypo takeoverPosted on April 20, 2009 12:00 AM
The German government on Friday launched its offer to buy Hypo Real Estate Holding AG, insisting it intends to buy 100% of the troubled lender despite possible opposition from the bank's biggest shareholders, led by U.S. investor JC Flowers & Co LLC.
Germany's bank rescue fund, known as Soffin, is offering €1.39 per share, valuing Hypo Real Estate at €321 million ($419 million). The bid is pitched at a 10% premium to the minimum statutory price of €1.26 that Soffin was required to offer. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline.
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