May 14, 2019 / 9:01 AM / a year ago

Scout24 takeover offer by Hellman & Friedman, Blackstone failed - bidders

BERLIN, May 14 (Reuters) - The takeover bid led by Hellman & Friedman and Blackstone for Scout24 has failed as it did not reach the threshold of 50 percent of shares, the bidders on Tuesday said in a statement.

"At the time of expiry of the acceptance period (...), the number of Scout24 shares for which the Offer has been accepted together with Scout24 shares owned and Scout24 shares attributable for the purpose of the calculation of the minimum acceptance threshold amounted to approximately 42.8 percent of all outstanding shares in Scout24," the bidders said.

The minimum threshold was therefore not reached, they added.

Share in Scout24 were down 6.7% on the news. (Reporting by Tassilo Hummel, editing by Riham Alkousaa)

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