GSW boards nod to Deutsche Wohnen offer, group to raise dividend
FRANKFURT Oct 14 (Reuters) - Real estate companies Deutsche Wohnen and GSW Immobilien said on Monday they agreed on Deutsche Wohnen's proposed takeover offer for GSW, worth about $2.3 billion, and planned to raise dividends following the tie-up.
"The management board and the supervisory board of GSW support the takeover offer by Deutsche Wohnen," GSW said on Monday.
The combined entity plans to raise its dividend payments by increasing the payout ratio to 60 percent of funds from operations, excluding disposals, from 50 percent, starting with the dividend payable for the year 2014, Deutsche Wohnen said. (Reporting by Peter Dinkloh)
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