Vonovia Lifts Offer for Rival Deutsche Wohnen to $22.7 Billion

Vonovia SE nudged up its offer for rival German real estate company Deutsche Wohnen SE to about 19.1 billion euros ($22.7 billion), sweetening an attempt to woo shareholders after last month’s bid narrowly failed.

Pending approval from German financial regulator BaFin, Vonovia said Sunday in a statement it agreed to pay 53 euros cash for each Deutsche Wohnen share after failing to secure a deal at 52 euros last month. Deutsche Wohnen shares closed at 52.64 euros on Friday, suggesting investors were expecting an improved offer.

The company’s shares rose as much as 0.4% to 52.86 euros in Frankfurt ...