Merger report backs 3-for-1 ratio for Warehouses De Pauw stock
Published on 10/21/2026 at 10:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSMerger timetable and valuation
- A merger commissioner deemed the 3-for-1 exchange ratio fair on October 19, 2026.
- Kepler Cheuvreux cut its target to EUR 22.00 on October 14, 2026.
- Warehouses De Pauw stock trades at EUR 19.35 at 10:47 a.m. CEST at Lang & Schwarz on October 21, 2026, 0.78 percent above the Xetra close of October 19, 2026.
- Shareholders are scheduled to vote on the merger on November 20, 2026.
Warehouses De Pauw (ISIN BE0974349814) was trading at EUR 19.35 at Lang & Schwarz on October 21, 2026, at 10:47 a.m. CEST, 0.78 percent above the Xetra close of October 19, 2026 at EUR 19.20. A merger commissioner deemed the proposed 3-for-1 exchange ratio with Argan fair in a report made available on October 19, 2026, according to Ideal Investisseur.
Merger terms set the framework
The report covers the proposed cross-border merger between WDP and Argan. It also describes an exceptional distribution of EUR 11.00 per share and a withdrawal price of EUR 71.10, reduced to EUR 60.10 after that distribution, according to Ideal Investisseur. The figures frame the transaction before shareholders vote, rather than describing a completed merger.
What does the ratio mean for WDP?
The key issue is the capital base behind the combination. WDP raised EUR 400 million by placing 20.6 million new shares at EUR 19.40 on September 29, 2026, according to Beleggen.co. The same report said the pro forma loan-to-value ratio fell from 41.6 percent to 37.1 percent, giving the merger a stronger balance-sheet starting point.
Three events shaped the stock
On September 29, 2026, WDP announced the EUR 400 million share placement; on October 14, 2026, Kepler Cheuvreux cut its target from EUR 25.00 to EUR 22.00 while keeping a buy rating; on October 19, 2026, the merger commissioner backed the 3-for-1 exchange ratio, according to Ideal Investisseur and Ideal Investisseur.
Two dates now matter
TradingView lists October 23, 2026 as WDP's next earnings date, with the latest quarter showing EUR 0.41 in earnings per share against EUR 0.42 expected, according to TradingView. The shareholder meeting on November 20, 2026 is scheduled to vote on the merger proposal, according to Ideal Investisseur.
Stock stays below its yearly range midpoint
The Euronext Brussels listing showed a 52-week range of EUR 18.56 to EUR 26.18 and a market capitalization of EUR 5.0 billion on October 19, 2026. Euronext identifies WDP as a BEL 20 constituent and lists its ISIN as BE0974349814.
Price and merger timetable
WDP stock was trading at EUR 19.35 at Lang & Schwarz on October 21, 2026 at 10:47 a.m. CEST, 0.78 percent above the Xetra close of October 19, 2026 at EUR 19.20.
The further course of trading is shown by the continuously updated real-time quote of Warehouses De Pauw stock.
WDP stock facts
- Company: WDP NV/SA
- ISIN: BE0974349814
- Ticker: WDP
- Primary exchange: Euronext Brussels
- Price Lang & Schwarz (as of October 21, 2026, 10:47 a.m. CEST): EUR 19.35
- Change versus Xetra close: plus 0.78 percent
- Xetra close (October 19, 2026): EUR 19.20
- Market capitalization: EUR 5.0 billion (as of October 19, 2026)
- 52-week range: EUR 18.56-26.18 (as of October 19, 2026)
- Sector / Industry: Real Estate / REIT - Industrial
- Index membership: BEL 20
- Next earnings date: October 23, 2026
Market context: Market report Euro Stoxx 50.
