Sign up to The Irish Times Archive (1859 - 2008)My Account »

Tue 09 Sep 2007Depfa shareholders back €5bn mergerShareholders of Dublin-based Depfa Bank yesterday agreed to a €5 billion merger with German property investment bank Hypo Real Estate, despite the value of the deal falling by 12 per cent in the past two months.The merger was initially worth €5.7 million in a cash and shares deal, amounting to €16.14 per Depfa share. However, shares in Hypo have fallen by 20 per cent since the offer was announced in July.