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Public Takeovers in Germany Newsletter 2026

26 March 2026

financial stock market graph on technology abstract background represent risk of investment

The ninth edition of our “Public Takeovers in Germany” newsletter provides an overview of public takeovers carried out in Germany in 2025 under the German Securities Acquisition and Takeover Act (WpÜG).

Dear Sir or Madam,

Dear clients,

Welcome to our yearly newsletter “Public Takeovers in Germany”.

Our newsletter provides among other things a statistical analysis of public takeovers in Germany during the year of 2025.

Further, we showcase what we consider to be the most noteworthy public takeover bids of the past year in Germany. In 2025, these undoubtedly were (i) the takeover offer regarding CECONOMY AG by JINGDONG Holding Germany GmbH as well as (ii) the delisting self tender offer by Francotyp-Postalia Holding AG and the competing partial acquisition offer subsequently published by two of its shareholders, SALTARAX GmbH and Mr Hans-Herbert Döbert.

Finally, we discuss current legal developments which are relevant for the German public takeover market. We summarize the implications of the publication of the IDW standard for assessing the appropriateness of stock market-based compensations (IDW S 17), which was adopted by the Technical Committee for Business Valuation and Business Administration (Fachausschuss für Unternehmensbewertung und Betriebswirtschaft) in November 2025. Furthermore, we explain the takeover law implications of the new Domestic Location Promotion Act (Federal Law Gazette (Bundesgesetzblatt) 2026 Part I No. 33 dated 9 February 2026 – Standortfördergesetz).

Authored by Dr. Tim Oliver Brandi, LL.M. (Columbia), Dr. Mike Karl Schmidt and Irina Matevosyan.