RAS Beteiligungs GmbH, LSW GmbH and SGW-Immo-GmbH, three entities connected to XXXLutz Group has announced the result of their voluntary public takeover offer to the shareholders of German online furniture retailer home24.
A total of 19,315,319 shares were tendered within the acceptance period that ended on 9 December 2022. Based on an increased total share capital of the Company of 33,578,132 shares as of this record date due to the issuance of 2,168 shares from contingent capital, this represents a stake of 57.52% in the share capital of home24.
Together with the shares from the capital increase announced on 5 October 2022, subscribed by entities connected to XXXLutz and already implemented, as well as share purchases and other instruments, XXXLutz has secured a stake of approximately 80.94% in the current share capital of home24.
The remaining home24 shareholders will now have a time-limited additional opportunity to accept the takeover offer. In accordance with the German Securities Acquisition and Takeover Act, shareholders who have not yet tendered their shares can accept the offer by tendering their home24 shares during the additional acceptance period at the attractive offer price of EUR 7.50 in cash per share.
The additional acceptance period begins on 15 December 2022 and ends on 28 December 2022. The offer will expire at the end of the additional acceptance period. XXXLutz intends to delist the home24 shares after completion of the offer.
The Management Board and the Supervisory Board of home24 have recommended that the shareholders of the Company accept the Offer with both boards highlighting the “financial attractiveness” of the offer. Completion remains subject to customary antitrust approvals.