April 15 (Reuters) – Austria’s takeover commission will take more time to review property group Immofinanz’s takeover offer for peer S Immo, it said on Thursday.
The commission said it would publish its decision on the Austrian deal “in a timely manner”, citing the need to examine offer documents more closely. The review was previously expected to be published on April 15.
A tie-up between the two companies has been on and off for years as they look to create a stronger business and make savings. In 2019, they abandoned talks after failing to agree on a share exchange ratio.
In late March, Immofinanz increased its offer for S Immo to 22.25 euros ($26.65) per share from 18.04 euros per share.
S Immo shares were unchanged at 21.50 euros at 0837 GMT.
$1 = 0.8350 euros Reporting by Bartosz Dabrowski in Gdansk. Editing by Mark Potter
