Vonovia Plays Down Bid for Adler as KPMG Report Looms (1)

Germany’s largest landlord is playing down the prospect of a takeover of embattled rival Adler Group SA in an apparent reversal from earlier comments that had raised expectations of a bid.

Vonovia SE Chief Executive Officer Rolf Buch told investors at a conference organized by Bank of America Corp. last week that a recent run of mergers and acquisitions by the company had come to an end. That’s a potential blow for Adler shareholders, who have seen the firm gain about 30% since Vonovia acquired a stake in the company last month, in what was seen by many as the ...