Neinor Homes Launches 1.25 Billion Euro Takeover Bid for Aedas, Including 200 Million Debt Cancellation; Shares Surge 20%

Spanish real estate developer Neinor Homes has launched a takeover bid for its rival Aedas Homes, aiming to create the largest residential property promoter in Spain. The tender offer is valued at approximately 1.25 billion euros, with around 1.07 billion euros allocated for purchasing Aedas shares and nearly 200 million euros intended to cancel Aedas' debt. Following the announcement, Neinor's shares surged by up to 20% in the stock market, while Aedas' shares declined by more than 10% as they adjusted to the offer price. Analysts have recommended shareholders of Aedas to exit their positions and have revised their outlooks positively for Neinor. This acquisition is expected to reshape the Spanish residential real estate sector by consolidating the two companies into a dominant market player.