Ströer's €2.5B takeover collapses as Blackstone exits deal talks

A third failed bid leaves Ströer's future in limbo. With Blackstone out, will I Squared Capital go solo—or walk away for good?

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2026 May 20 . 12:02 AM

1 min read

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Ströer's €2.5B takeover collapses as Blackstone exits deal talks

The potential takeover of Ströer SE & Co. KGaA has hit another setback after Blackstone pulled out of the deal. The US investment firm’s withdrawal leaves I Squared Capital reconsidering its next steps, following two earlier failed attempts to acquire the German media company. Ströer’s shares dropped by nearly 10% after reports of a possible bid emerged. The company had previously been in discussions over a joint offer valued at €2.5 billion, with shares priced in the mid-€40 range. However, this latest effort collapsed when Blackstone decided to exit the negotiations.

I Squared Capital has twice tried—and failed—to buy Ströer. With Blackstone no longer involved, the chances of a quick takeover have faded. The firm is now weighing whether to proceed alone or find a new partner for another attempt.

Last year, a separate bid for Ströer also fell through. The repeated setbacks have left the company’s future ownership uncertain for now. Blackstone’s departure reduces the immediate prospect of a deal. I Squared Capital must now decide if it will push forward alone or seek alternative partners. The outcome will determine whether Ströer faces further takeover attempts in the near future.