GSW says tie-up with Deutsche Wohnen 'could make sense'

FRANKFURT Mon Aug 26, 2013 2:18am EDT

FRANKFURT Aug 26 (Reuters) - GSW Immobilien, the German residential landlord that has received a $2.3 billion takeover offer from rival Deutsche Wohnen, said on Monday it saw some merit in the proposed tie-up but that it needed more information.

"A combination of GSW and Deutsche Wohnen could make sense from an operational and an industry point of view," GSW said in a statement.

"GSW is in the process of thoroughly analysing the proposed offer. With regard to certain key aspects of the offer further clarification is required."

The takeover target said it hired Goldman Sachs, Citigroup and Dutch bank Kempen & Co for financial advice, confirming a Reuters report from last week.

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