Neinor's stock price soars 20% after its acquisition of Aedas, which fell more than 10%.

The deal of the year in the Spanish real estate market has revolutionized the markets. Although Neinor 's intentions to acquire its competitor Aedas had been known for weeks , the final announcement of the offer this Tuesday triggered intense ups and downs in the national stock market , with varying fortunes for each of those involved.

As expected, once Neinor's proposal became known , Aedas shares suffered the worst, with declines exceeding 11%. With this move, the share price of the group led by David Martínez is approaching the price of 24.485 euros offered by Neinor, after reaching an agreement with Castlelake, the main shareholder of the developer that has been bought out.

With everything in favor of the operation going ahead and with no signs of a counter-bid (after all, the fact that Castlelake wanted to divest from Aedas has been an open secret for some time and no other group or fund has made a decisive move to acquire it), investors rushed this Tuesday to sell en masse (the volume of shares traded is more than eleven times the company's average ) shares that at the close of the previous day were valued up to 10% above the takeover price.

Neinor's shares, on the other hand, are enthusiastically welcoming the news, as evidenced by increases of over 20%, shattering their all-time highs (in dividend-adjusted figures).

This strong rebound, which is occurring with a high volume, which is more than ten times its daily average, shows the confidence of investors in the returns of an operation that several analysis houses, such as Renta 4 , have described as transformational, placing Neinor as the reference player in the sector in Spain, with a land bank of approximately 43,200 homes.

In fact, the news has prompted a wave of recommendation upgrades from analysts covering the stock. This is the case with Santander, CaixaBank, Sabadell, and Alantra, which have now recommended buying shares of the firm led by Borja García-Egotxeaga .

Along with the announcement of the offer, Neinor also announced an improvement to the targets of its 2023-2027 strategic plan . It now expects to earn 40% more during the period, reaching €510 million, and projects a distribution of €850 million, 44% more than initially projected.