Vonovia, a real estate company, completed the acquisition of Deutsche Wohnen, a German property company, for €30.1bn ($35bn). "We can now focus our combined efforts to address the major social and societal challenges in the housing market. We have demonstrated many times that managing a larger number of homes enables us to achieve significant benefits for all stakeholders. We will uphold our responsibility to work together with policy-makers on concrete solutions for affordable and climate-friendly housing," Rolf Buch, Vonovia CEO. On July 26, 2021, Vonovia announced the offer did not reach the minimum 50% acceptance threshold. On August 1, 2021, Vonovia agreed to make a new Deutsche Wohnen offer.