Vonovia’s $22 Billion Deutsche Wohnen Takeover Collapses

Vonovia SE’s roughly 19 billion-euro ($22 billion) offer for rival Deutsche Wohnen SE collapsed after failing to secure enough shareholder backing.

Germany’s largest residential real estate firm said on Monday that it didn’t reach the minimum 50% acceptance threshold required for its offer to be successful.

The statement confirms what appeared increasing likely after Vonovia on Friday said it was unlikely to reach its target. The deal would have combined Germany’s two largest residential landlords into an entity controlling more than 500,000 apartments and further consolidated the power of large property owners -- an issue that has inflamed activists, ...