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Vonovia launches public takeover offer for Deutsche Wohnen, deadline July 21

BERLIN, June 23 (Reuters) - German real estate firm Vonovia on Wednesday launched a public takeover offer for the shares of rival Deutsche Wohnen and set a July 21 deadline to acquire 50% of Deutsche Wohnen shares for the merger to go through.

Vonovia said it expects around 105 million euros ($125.13 million) of cost cuts per year with merger synergies and savings, adding the cuts would be fully realised by the end of 2024 and do not yet include benefits from joint financing.

$1 = 0.8391 euros Reporting by Riham Alkousaa, editing by John Miller

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