ROLF BUCH, chief executive of Vonovia, Germany’s biggest residential-property company, says he has learned a lot since he tried and failed to buy Deutsche Wohnen (DW), the second-biggest, in 2015. Back then Mr Buch’s hostile bid was an attempt to prevent DW from combining with third-ranked LEG. Neither deal came to pass.
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On May 24th Vonovia said it is having another go, with the acquiescence of DW’s management. “This time we will do better,” Mr Buch promises. If the €18bn ($22bn) all-cash deal wins the approval of DW’s shareholders, it will create by far the biggest
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